• Reps probe $18b spent on non-functional refineries
• Ezekwesili urges Senate to end injustice against Natasha
Nigeria’s 2026 budget presentation faces uncertainty, as the Senate has suspended consideration of new fiscal proposals pending a detailed account from the executive on the performance of the 2024 and 2025 budgets.
This was the clear message, yesterday, from the Senate Committee on Finance, which directed top managers of the economy to submit a comprehensive performance report on the 2024 budget and projections for the 2025 fiscal year within two weeks.
Also, the House of Representatives, yesterday, directed its relevant committees to investigate the persistent non-functionality of Nigeria’s state-owned petroleum refineries in Port Harcourt, Warri and Kaduna, despite about $18 billion reportedly spent on their rehabilitation over the past two decades.
In another development, former Minister of Education and public accountability advocate, Dr Obiageli Ezekwesili, has called on the Senate to immediately end what she described as the “injustice and undue harassment” of Sen Natasha Akpoti-Uduaghan (PDP, Kogi Central), following her reinstatement to the Red Chamber after months of suspension.
The Senate’s directive followed a closed-door meeting lasting over an hour between the committee and key government officials, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Accountant-General of the Federation, Shamsedeen Ogunjimi; and the Director-General of the Budget Office, Tanimu Yakubu.
Finance committee chairman, Sen Mohammed Sani Musa (APC, Niger East), told journalists after the session that the lawmakers had resolved not to consider the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2026–2029 until the finance team submits the requested documents on October 23.
“We’ve reviewed the progress made on the 2024 budget and discussed expectations for 2025,” Musa said. “But before we proceed with the MTEF and FSP for 2026, we must see clear, documented evidence of performance. The Minister of Finance has agreed to provide this report, and we will reconvene on October 23.”
Musa explained that the committee examined details of funds released so far, warrants issued, and levels of authority granted to Ministries, Departments and Agencies (MDAs) to execute capital projects. He added that the committee acknowledged President Bola Tinubu’s recent request for new loan approvals from the National Assembly, intended to strengthen fiscal operations and support 2025 capital spending.
“We have made some progress, but we must do more to ensure that the 2026 fiscal cycle begins on solid ground,” the senator added. However, while Edun insisted that the capital component of the 2024 budget was “performing well,” the Director-General of the Budget Office painted a far bleaker picture.
Yakubu described the 2024 and 2025 budget implementation cycles as “turbulent,” citing missed fiscal assumptions and widening shortfalls in key revenue streams.
“We have had a difficult year, one in which most of the assumptions underpinning the 2024 and 2025 budgets turned out differently from projections,” he said.
THE House resolution followed the adoption of a motion moved by Lagos lawmaker, Sesi Whingan, at plenary presided over by Deputy Speaker, Benjamin Kalu.
Nigeria has four government-owned refineries: two in Port Harcourt, and one each in Warri and Kaduna, operated by the Nigerian National Petroleum Company Limited (NNPCL). Over the years, the facilities have suffered from poor management and vandalism, leaving the country reliant on imported refined petroleum products.
Recently, billionaire industrialist Aliko Dangote expressed doubts over the refineries’ chances of returning to full operational capacity, while NNPCL Group Chief Executive Officer, Bayo Ojulari, indicated that selling off the assets might be considered.
Whingan, who represents Lagos’ Badagry Federal Constituency, said the House was concerned over the prolonged non-functionality of the strategic assets despite sustained rehabilitation efforts and the massive financial outlay.
Following the adoption of the motion, the House urged its Committees on Petroleum Resources (Upstream, Downstream, and Midstream), Gas Resources, and Public Assets “to investigate funds appropriated and disbursed for the rehabilitation of the Port Harcourt, Warri and Kaduna refineries between 2010 and 2024.”
IN a memo posted on her X handle addressed to the Senate leadership and all 107 members, Ezekwesili congratulated the Kogi Central lawmaker on her return, describing her as “a symbol of fortitude and resilience against the abuse of public power.”
She noted that Akpoti-Uduaghan’s earlier suspension, which had drawn criticism from rights groups and gender advocates, was widely viewed as an act of intimidation that undermined the dignity of the legislature.
“Senator Natasha’s suspension went far beyond the bounds of fair discipline. It sent a dangerous signal that a woman who speaks boldly could be silenced,” Ezekwesili stated. “Her reinstatement is, therefore, not only a personal victory but also an opportunity for the Senate to correct a grave wrong and demonstrate that fairness and justice still matter in Nigeria’s democracy.”
