Budget Scrutiny: Reps Demand Accountability as Finance Ministry Proposes ₦14.3B for 2026
Analysis by Hussaini Umar (Najiddah) | Inside the House Committee on Finance 3-Day Budget Hearing
₦14.325B
Finance Ministry 2026 Proposal
Includes ₦5.2B for capital projects and ₦4.6B for overheads.
“Not Ready”
NBET Compliance Status
Committee dismissed NBET for failing to provide complete 2025 performance documents.
The House Committee on Finance, led by Mr. James Faleke, has initiated a rigorous three-day budget defense session, signaling a “zero-tolerance” approach toward agencies appearing without verifiable 2025 performance data. The hearings put the spotlight on the Nigerian Bulk Electricity Trading Plc (NBET) and the Federal Ministry of Finance.
Scrutinizing the Ministry of Finance
The Ministry’s ₦14.325 billion proposal for 2026 faced immediate questioning regarding its capital expenditure component. Lawmakers highlighted a discrepancy in the ₦5.2 billion capital projects figure, which Minister Wale Edun clarified includes debt service items classified by the Budget Office—items usually outside regular capital spend.
The Revenue Formula & RMAFC Reforms
A major data-driven update came from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). Chairman Dr. Mohammed Shehu confirmed that a new National Revenue Allocation Formula is nearing completion. Crucially for grassroots development, the commission plans to re-establish a Local Government Monitoring Committee to curb state interference and ensure funds reach the people.
The NBET Controversy
NBET was criticized for its “unprepared” appearance and its expenditure priorities. Lawmakers raised red flags over high spending on international travel while basic office and residential maintenance remained underfunded. The committee has demanded a budget-head-by-budget-head breakdown of revenue sources before the 2026 proposal can be considered.
Rahoton Kasafin Kudi (Hausa)
Kwamitin Kudi na Majalisar Wakilai ya fara tantance kasafin kudin shekarar 2026 na ma’aikatu da hukumomin gwamnati. Shugaban kwamitin, James Faleke, ya kori hukumar NBET saboda rashin gabatar da cikakken bayani kan yadda suka kashe kudin shekarar da ta gabata. Ma’aikatar Kudi ta gabatar da bukatar kashe naira biliyan 14.3, yayin da hukumar RMAFC ke shirin kaddamar da sabon tsarin raba kudaden shiga na kasa don tabbatar da cewa kudi ya isa matakan kananan hukumomi.
