Reps Demand Full Implementation of 2024, 2025 Capital Projects
The House of Representatives has referred President Bola Ahmed Tinubu’s request to establish a ₦1.15 trillion domestic borrowing programme to the Committee on Aids, Loans and Debt Management for further legislative action.
The request, dated October 31, 2025, and titled: “Request for the Approval of the National Assembly for a Borrowing Programme to Fund the 2025 Budget Deficit,” was submitted to the Speaker, Tajudeen Abbas.
It was formally read on the floor by the Deputy Speaker, Benjamin Kalu, who presided over Wednesday’s plenary.
President Tinubu explained that the borrowing had become necessary due to the increase in the total size of the 2025 Appropriation Act passed by the National Assembly.
The lawmakers had approved a total budget of ₦59.99 trillion, up from the Executive’s proposal of ₦49.74 trillion, adding ₦5.25 trillion to the spending plan.
As a result, the budget deficit surged to ₦14.10 trillion, while the approved borrowing component stood at ₦12.95 trillion, leaving an unfunded gap of ₦1.15 trillion.
The President stressed that the request was in line with Section 44 (1–2) of the Fiscal Responsibility Act (FRA), 2007, which requires parliamentary approval for all new government borrowings.
The House said its decision to refer the request to the committee reflected its commitment to fiscal transparency and ensuring debt sustainability, ahead of full implementation of the 2025 budget cycle.
Meanwhile, during two closed-door sessions earlier in the day, lawmakers expressed serious concerns over delays in the execution of the 2024 capital projects.
They decried the ongoing protests by Indigenous Contractors who blocked the National Assembly gates on Tuesday and Wednesday over delayed payments for completed projects.
The lawmakers demanded the immediate release of funds for the 2024 capital component and urged the Executive to fast-track early implementation of the 2025 budget once approved, to prevent further project delays and disruptions to development programmes.
The House thereafter adjourned plenary until Tuesday next week.
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