The Senate has scored the executive low in the implementation of the capital component of the 2024 budget, saying there is a need for the government to get Ministries, Department and Agencies of the Federal Government to implement the budget.
The Senate on Wednesday also urged the Federal Government to intensify efforts in funding the capital components of the three national budgets which are running concurrently in the country.
The Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola, gave the task when the Minister of Finance, Wale Edun and the Accountant General of the Federation, Oluwatoyin Madein, appeared before the panel over the budget performances.
Adeola lamented the poor funding of the capital components of the budgets and urged the Coordinating Minister for the Economy to improve on it.
Adeola said, “It is the capital component of the budgets that will showcase this government largely in terms of performances.
“The capital components tend to showcase various projects that will be executed by this government and people can say, oh, the government is doing this, it’s doing that. That is why we are emphasising the performance of the 2024 capital component of the project.”
Adeola added, “The N1.84bn achieved so far out of a N9tn capital expenditure component is nothing to write home about.
“I would want you to please look towards this direction. And I want you to do more engagement with the ministries and departments and agencies of the government.”
Adeola urged the minister to engage more with the MDAs because most of them were not aware of the current arrangement regarding funding of capital projects.
