Lawmakers raise concerns over perceived fraud in ministry’s 2024 budget performance

Nigerian lawmakers have flagged discrepancies in the Ministry of Trade and Investment’s 2024 budget execution, raising concerns over an unapproved addition of ₦9 million to a project originally allocated ₦50 million.

The irregularity was exposed during a budget defence session at the National Assembly, where Minister Jumoke Oduwole presented the ministry’s ₦3.8 billion capital budget proposal for 2025.

Abubakar Yahaya Kusada, a House of Representatives member from Katsina State, drew attention to the issue in a cotton and garment project. He revealed that the project with ₦50 million budget provision was reported as costing ₦59 million, sparking allegations of unauthorised spending.
Oduwole addressed other concerns, such as border closures and trade facilitation, but avoided commenting on the discrepancy.

This prompted further scrutiny from Mark Esset, another lawmaker, who demanded an explanation. In response, the ministry’s Director of Finance attributed the issue to a “typographical error,” claiming the project’s actual cost was ₦49 million, not ₦59 million.

Lawmakers were not convinced. Some alleged potential fraud, calling for stricter oversight of budget execution.

The Joint Committee on Trade and Appropriations directed the minister to revise the figures and resubmit the 2024 budget performance report. Lawmakers emphasised the need for accountability to curb financial irregularities and safeguard public funds.