Senator Mohammed Tahir Monguno, who represents Borno North Senatorial District, has challenged the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, over the Federal Government’s failure to implement the 2025 budget, describing the situation as a violation of the law and warning that it amounts to “an impeachable offence.”
The lawmaker raised the concerns during a National Assembly session, where he questioned the government’s handling of public revenue, budget implementation, and the disbursement of funds to the three tiers of government.
He also demanded explanations for the alleged retention of ₦1.7 trillion from a reported ₦3.7 trillion revenue received in one month.
Monguno questions budget implementation
Addressing the Finance Minister, Monguno acknowledged the presentation of the ministry’s financial figures but insisted that the key issue remained the poor implementation of the national budget.
According to him, despite assurances that 30 per cent of the 2025 budget would be implemented by March after about 70 per cent was rolled over into 2026, the target was not achieved.
He noted that the National Assembly had to extend the lifespan of the 2025 budget until September to allow the government more time to implement the outstanding projects.
“Where are these revenues going to? If the budget, for example, 2025 budget has not been implemented and we have to roll over 70% of 2025 to 2026 and we promised that 30% will be implemented before March. Up to March, even 30% was not implemented.”
The senator argued that budget implementation is essential for delivering democratic dividends to Nigerians and questioned the purpose of government if approved projects remain unexecuted.
“It is through the implementation of the budget that dividends of democracy are brought to the doorsteps of the people. If the budget is not being implemented, what is the function of government?”
Raises concerns over security funding
Monguno also expressed concern over funding for security agencies, claiming that agencies appearing before lawmakers had reported receiving no capital allocations.
He stressed that protecting lives and property remains the government’s primary constitutional responsibility.
“All the security agencies that we have interacted with are reporting to us that they have received zero allocation in terms of their capital.”
The senator further questioned why only ₦2 trillion was reportedly shared among the three tiers of government from a total monthly revenue of ₦3.7 trillion.
“About ₦3.7 trillion was received last month and only ₦2 trillion was disbursed to the three tiers of government. About ₦1.7 trillion was retained. Why?”
He concluded by stating:
“Why is budget not implemented? Because it is a breach of the law and it is an impeachable offence.”
Finance Minister responds
Responding to the senator’s concerns, the Minister of Finance said there was widespread misunderstanding regarding Nigeria’s borrowing figures.
According to the minister, many reports confuse National Assembly approvals for borrowing with the actual amount eventually borrowed by the Federal Government.
“There is a need for some clarification in terms of how debt numbers are reported. For external loans, we always need the approval of the National Assembly.”
The minister explained that the approval only sets the borrowing ceiling and does not mean the approved amount has been fully accessed.
“Many people take that as money borrowed. When we now borrow the money, they report it again. That is misleading.”
He disclosed that the Ministry of Finance was preparing a detailed breakdown showing the amount approved by the National Assembly, the amount actually borrowed, and how the funds were utilised.
“We will make it available to the public. It will show how much the National Assembly approved, how much we have borrowed, and how it has been spent.”
The minister maintained that the current administration had not exceeded the borrowing limit approved by lawmakers.
“We have not even taken half of what the National Assembly has approved.”
He also said government borrowing is guided by the Fiscal Responsibility Act, which permits borrowing only for capital projects and human development.
Addressing concerns over Nigeria’s rising public debt, the minister noted that public debt stood at about ₦75 trillion when the current administration assumed office, adding that comparisons should consider the context rather than focusing solely on headline figures.
Watch the video here…
“Why is the budget not being implemented? It’s a breach of the law and an impeachable offence” — Sen. Monguno queries Finance Minister Oyedele pic.twitter.com/CIonRNiOvF
— Instablog9ja (@instablog9ja) July 21, 2026
