House Queries ₦14.3bn Finance Ministry 2026 Budget Over Capital Spending

By Oluwakemi Kindness

The House of Representatives has queried the ₦14.325 billion proposed 2026 budget of the Federal Ministry of Finance over alleged discrepancies in its capital expenditure component.

Lawmakers raised the concerns during a budget defence session at the National Assembly with the committee on Finance, questioning the structure of the capital vote and describing some of the figures as inconsistent with standard budget projections.

A breakdown of the proposal shows ₦4.5 billion allocated for personnel costs, ₦4.6 billion for overheads, and ₦5.2 billion earmarked for capital expenditure.

Members of the House Committee on Finance, led by James Faleke, demanded clarification on the composition of the capital allocation.

Responding, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained that the disputed capital figure was not meant for physical projects but largely reflects statutory debt servicing obligations captured by the Budget Office.

According to the minister, the classification created the impression of an inflated capital vote, whereas the bulk of the allocation relates to debt service entries required by law and not to conventional capital spending.

Also addressing the Committee, the Chairman of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), Mohammed Shehu, disclosed that the commission is engaging revenue-generating agencies to resolve long-standing fiscal and remittance issues.

He said the renewed consultations are already yielding progress, with agencies increasingly approaching the commission to address gaps in revenue accountability and statutory remittance compliance.