SENATE
Olayiwola Mercy
The Nigerian Senate is putting pressure on the Accountant-General’s Office, threatening to withhold its 2026 budget allocation due to concerns over poor fund releases and accountability. This move reflects the Senate’s commitment to ensuring public funds are efficiently deployed and aligned with national priorities, particularly President Bola Tinubu’s Renewed Hope Agenda.
Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations, emphasized that budget defence is mandatory, and MDAs failing to justify their estimates will face reallocation of funds to priority projects. The Senate is tightening oversight mechanisms to enhance fiscal discipline and discourage multiple budgets in a fiscal year .
The Accountant-General’s Office has been given a chance to defend its proposed 2026 budget, with Senators expressing frustration over delays in fund releases and outstanding contractor liabilities. The Senate’s stance aims to promote transparency, accountability, and measurable value for every expenditure.
The Senate’s threat to withhold allocations is not limited to the Accountant-General’s Office. Minister of Industry, Trade and Investment, Jumoke Oduwole, has also been warned that her ministry’s proposed ₦2.72 billion capital allocation is inadequate to drive industrial growth and attract investment.
The 2026 budget proposal has faced criticism for being a rollover of the 2025 budget, with limited room for new capital initiatives. The Senate is pushing for increased capital funding to support key sectors, including security, infrastructure, education, and healthcare
The budget deficit is projected to be N25.27 trillion, with debt servicing expected to consume N15.90 trillion. The Senate has warned that borrowing will be managed carefully to prevent crowding out private-sector credit .
The Accountant-General, Shamseldeen Ogunjimi, has challenged the National Assembly to ensure the 2026 budget translates into real and measurable improvements in Nigerians’ lives. He emphasized that budget success should be judged by outcomes, not just allocations ⁷.The Senate is determined to ensure fiscal discipline and accountability, with a target date of March 17, 2026, to pass the budget.
