Analysts question government’s 85% capital spending claim
Economic analysts are raising doubts about the Federal Government’s assertion that it achieved 85% of its capital expenditure for the 2024 fiscal year. Concerns have been voiced over transparency, delayed contractor payments, and the lack of independent project verification. Wale Edun, the Minister of Finance, made the claim at a macroeconomic event, but experts like Aliyu Ilias and Akpan Ekpo argue that the figures remain unsubstantiated. While some defend the government’s position, others insist that independent oversight is needed for public trust.
TLDR
- Wale Edun stated that capital spending under the 2024 budget reached 85% after the implementation period was extended.
- Analysts question the credibility of the claim, citing transparency issues and unresolved contractor payments.
- Aliyu Ilias and Akpan Ekpo emphasize the need for independent oversight and note delays in project funding.
- The National Assembly extended the 2024 budget to December 2025, increasing its size and capital allocation.
- Some economists argue that without independent verification, it is difficult to confirm or dispute the government’s reported figures.
