The Budget Office of the Federation has told the House of Representatives Ad-hoc Committee investigating the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) that none of the N1.3 billion appropriated for the council in the 2026 Appropriation Act was released or spent.

Appearing before the committee on Friday, the Director-General of the Budget Office, Tanimu Yakubu, said public discourse had focused on the budgetary allocation rather than the constitutional and statutory processes required before government funds could be disbursed.

Yakubu explained that an appropriation only grants legal authority for possible expenditure and does not automatically translate into the release of public funds.

According to him, several regulatory approvals must be obtained before any agency can access budgeted allocations.

He clarified that the Budget Office neither established the council nor approved its recruitment, administrative structure or budget code, stressing that its role was limited to assessing the fiscal implications of proposals submitted by the appropriate government institutions.

The Budget Office boss disclosed that while the council initially proposed N3.85 billion as personnel costs, the agency rejected the estimate and independently recalculated the requirement at N802.98 million, using the approved staff establishment, recruitment waiver and the applicable public service salary structure.

He noted that the revised figure was subsequently incorporated into the Executive Budget proposal before being approved by the National Assembly.

However, Yakubu said the Budget Office never issued financial clearance for the personnel expenditure because key regulatory requirements were not fulfilled.

He identified one of the outstanding conditions as confirmation by the National Salaries, Incomes and Wages Commission that the proposed staffing structure and remuneration complied with existing government policies.

Without the required clearance, he said, no recruitment could legally take place, no staff member could be enrolled on the Integrated Payroll and Personnel Information System (IPPIS), and no salaries could be paid.

He further explained that the N802.98 million personnel allocation, representing about 61.6 per cent of the total appropriation, was never available to the council as cash.

According to him, personnel allocations are paid directly on a monthly basis into the bank accounts of verified federal employees through the government’s payroll system and not transferred as lump sums to ministries, departments or agencies.

“Not one kobo of the personnel provision could lawfully have been drawn. Not one kobo was drawn,” Yakubu told the lawmakers.

On the council’s N200 million overhead allocation, the Director-General said the amount never became eligible for release.

He explained that following concerns over the legal status of the council in June 2026, the Budget Office formally requested the Federal Ministry of Finance and the Office of the Accountant-General of the Federation to suspend all payment processes relating to the council.

Yakubu also disclosed that the N300 million capital allocation remained untouched because none of the mandatory procurement procedures—including approvals by the Ministerial Tenders Board and, where necessary, the Bureau of Public Procurement (BPP)—had been completed before the expenditure process was halted.

He maintained that Nigeria’s public financial management controls functioned effectively by preventing any unlawful disbursement of funds.

According to him, the personnel allocation was stopped at the financial clearance stage, the overhead allocation was halted before warranting and cash backing, while the capital allocation did not progress beyond the procurement approval stage.

“The controls did not discover a loss after the event. They prevented the event,” Yakubu said, adding that there were no public funds to recover because no money was ever released.

The House Ad-hoc Committee is investigating issues surrounding the establishment, funding and operations of the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council.

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President Bola Ahmed Tinubu has signed the ₦68.32 trillion 2026 Appropriation Bill into law, setting Nigeria’s fiscal direction for the year while extending the lifespan of the 2025 capital budget.

The newly approved budget, which took effect from April 1, prioritises economic stability, infrastructure development, national security, and inclusive growth.

According to details released by the State House, ₦4.799 trillion has been allocated for statutory transfers, while ₦15.8 trillion will go toward debt servicing. Recurrent expenditure stands at ₦15.4 trillion.

A significant ₦32.2 trillion—nearly half of the total budget—has been earmarked for capital expenditure through the Development Fund, signalling the government’s push to accelerate infrastructure projects and stimulate productivity across key sectors.

In addition, the President approved an amendment extending the implementation period of the 2025 budget’s capital component from March 31 to June 30, 2026.

The extension is expected to give Ministries, Departments, and Agencies (MDAs) more time to complete ongoing projects that are already at advanced stages, ensuring better utilisation of public funds and improved project delivery.

Officials said the move would enhance completion rates and maximise value for money, particularly in critical infrastructure and development projects nationwide.

With the 2026 budget now in force, the Federal Government is set to commence full implementation in line with its Renewed Hope Agenda.

Tinubu has directed all MDAs to adhere strictly to fiscal discipline, transparency, and efficiency in the use of allocated resources, with emphasis on timely execution and accountability.

He also commended the National Assembly for its cooperation in the swift passage of the budget, highlighting the importance of synergy between the executive and legislative arms in driving national development.

The President further assured Nigerians of his administration’s commitment to strengthening fiscal reforms, boosting revenue generation, and prioritising investments that will drive economic growth, create jobs, and enhance social protection.

The development marks a key milestone in Nigeria’s fiscal planning cycle as the government seeks to balance rising expenditure demands with long-term economic stability.

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BudgIT, a leading budget transparency and accountability organisation, has raised alarm over widespread project fraud across Nigeria after uncovering 92 fraudulent projects nationwide.

The revelation is contained in BudgIT’s 2024/2025 Tracka Report, released on Thursday, which monitored the implementation of 2,760 government-funded projects across 28 states of the federation.

According to the report, the 92 projects were categorised as “fraudulent” due to diversion of funds, poor execution, relocation of projects without approval, and repeated budgetary allocations for projects already completed in previous cycles.

BudgIT explained that while 1,438 projects were completed, 99 were abandoned, 660 were ongoing, and 471 had not commenced despite funding, highlighting deep-rooted inefficiencies in Nigeria’s public expenditure system.

The organisation noted that Imo State recorded the highest number of fraudulent projects at 17.43 per cent, followed by Lagos with 12.73 per cent, Kwara at 11.76 per cent, Abia with 10.67 per cent, and Ogun at 8.33 per cent. Together, the five states accounted for over 57 per cent of all fraudulently delivered projects, involving about ₦8.61 billion out of the ₦15.07 billion allocated to such projects.

BudgIT said the Tracka initiative also carried out targeted monitoring of strategic infrastructure, including dam projects, revitalised primary healthcare centres, and federally funded projects in the Niger Delta, to assess their impact on national development.

In the dam sector, Tracka monitored 16 projects across 13 states valued at ₦432 million. The report found that none had been completed, with four abandoned, six progressing slowly, and six yet to commence despite receiving funds.

Similarly, 47 revitalised primary healthcare centres tracked across 25 states showed mixed results, with only 26 recording visible improvements, while others were either under renovation, untouched, or abandoned.

In the Niger Delta region, BudgIT tracked 48 federally funded projects across Akwa Ibom, Cross River, Delta, and Rivers states. While 29 projects were completed, 13 had not commenced, four were ongoing, and two could not be traced despite confirmed funding.

Commenting on the findings, Head of Tracka, Joshua Osiyemi, stressed that budgetary allocations alone do not guarantee development, calling for stronger citizen participation and government accountability.

He urged governments to publish detailed project data, improve supervision, ensure timely fund disbursement, and prioritise projects with real social impact. Osiyemi also encouraged citizens to actively monitor projects in their communities using civic platforms like Tracka to reduce corruption and improve service delivery.

Despite the challenges identified, the report highlighted 15 success stories driven by citizen engagement, including completed healthcare centres, school renovations, erosion control projects, disability empowerment programmes, and access to clean water in several states.

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