Rep Ugochinyere applauds 2025 budget reforms, capital project spread

The representative for Ideato North/South Federal Constituency, Hon. Ikenga Imo Ugochinyere, has commended the Director General of the Budget Office of the Federation, Tanimu Yakubu, for introducing transformative reforms in the 2025 budget and ensuring equitable distribution of capital projects across constituencies and states.

In a statement issued in Abuja on Tuesday, Ugochinyere, who also chairs the House Committee on Petroleum (Downstream), described the reforms as pivotal to Nigeria’s sustainable development.

He stressed that the infrastructure outlined in the capital projects component is critical to the nation’s transformation.

The lawmaker noted the prioritization of capital expenditure in the proposed N49.74 trillion 2025 budget, with a substantial N17.858 trillion allocated for capital projects. According to him, this allocation underscores Yakubu’s expertise and commitment to addressing the country’s pressing infrastructural deficits.

He stressed Yakubu’s expertise and leadership, stating that the DG prioritized the country’s needs by allocating the lion’s share of the proposed ₦49.74 trillion budget to capital expenditure, with ₦17.858 trillion earmarked for this purpose.

“I want to commend the Director General, Budget Office of the Federation, Tanimu Yakubu, for the reforms introduced in the 2025 budget, especially the spread of the capital projects.

“These reforms in the proposed 2025 budget are key to sustainable development. Infrastructure captured under capital projects is the backbone of national transformation, as no nation can progress amidst decayed infrastructure, as is presently the case.

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“Yakubu has proven his mettle as an accomplished economist, having served as Chief Economic Adviser to a former President from 2007 to 2010, Managing Director/Chief Executive Officer of the Federal Mortgage Bank of Nigeria from 2003 to 2007, and Commissioner of Finance, Budget, and Economic Planning in Katsina State from 1999 to 2003.

“Under his watch, the capital component of the 2025 proposed budget has taken the lion’s share, with ₦17.858 trillion allocated out of the total ₦49.74 trillion. The icing on the cake is the equitable spread of capital projects across the nation, ensuring no part is left behind in the quest for massive infrastructure development.

“A first look at the proposed Appropriation Bill currently before the National Assembly shows that out of the total ₦49.74 trillion, ₦4.43 trillion is for statutory transfers, ₦16.32 trillion is for debt service, ₦14.12 trillion is for recurrent (non-debt) expenditure, and ₦14.85 trillion is for capital expenditure.

“However, after careful analysis, the statutory transfers include ₦3.005 trillion for capital expenditure. Adding this to the ₦14.85 trillion results in an aggregate capital expenditure of ₦17.858 trillion. This allocation is adequate for addressing the country’s infrastructural challenges,” he stated.