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BudgIT Raises Red Flag On 2026 Budget, Urges N’Assembly To Tighten Fiscal Oversight

Mark Itsibor by Mark Itsibor
3 months ago
in Business
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A civic technology organisation, BudgIT Foundation, has raised concerns over key fiscal and policy gaps in the proposed 2026 federal budget, urging the National Assembly to strengthen oversight and improve transparency in public spending.

In a memorandum submitted to the National Assembly on the 2026 Appropriation Bill, the organisation outlined several weaknesses in the budget framework, including issues relating to project prioritisation, unclear allocations and weak accountability mechanisms.

BudgIT said addressing the concerns is critical to strengthening budget credibility and ensuring that public resources deliver measurable outcomes for citizens.

Among its recommendations, the organisation urged the National Assembly to institutionalise a strict timetable requiring the Medium-Term Expenditure Framework (MTEF) to be debated, approved and published before the Appropriation Bill is presented.

According to BudgIT, enforcing this process would ensure compliance with the Fiscal Responsibility Act and prevent overlapping fiscal cycles that create uncertainty in the country’s budgeting process.

The group also called on lawmakers to mandate all ministries, departments and agencies (MDAs) to provide clear and detailed descriptions of capital projects in the budget. It noted that every project should clearly state its objectives, costs and implementation timelines to eliminate vague budget entries that obscure spending intentions.

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BudgIT further recommended the establishment of a Fiscal Compliance Review Committee within the National Assembly to conduct quarterly assessments of budget allocations and ensure they align with statutory obligations and best practices.

The committee, it said, would also help prevent misallocation of public funds by scrutinising projects before they receive legislative approval.

The organisation also urged lawmakers to require the quarterly publication of budget releases and project-level implementation updates for all MDAs.

It suggested integrating budgeting, procurement and cash management data into the Government Integrated Financial Information Management System (GIFMIS) portal to improve transparency and public engagement in the budget process.
BudgIT said MDAs that fail to comply with the transparency requirements should face sanctions.

The group also called for stronger transparency in the management of Service-Wide Votes and statutory funds.
It recommended that the National Assembly set clear rules for disbursement, disclose beneficiaries publicly and link spending to measurable outcomes.

According to the organisation, such measures would help curb misuse of public funds and reduce excessive discretion in government spending.

BudgIT further urged lawmakers to use the 2026 budget review process to address institutional inefficiencies within government ministries.

It recommended that the expanded mandate of the Federal Ministry of Health and Social Welfare be reviewed, suggesting that social welfare responsibilities should remain under the Federal Ministry of Humanitarian Affairs.

The organisation also advised that the proposed Ministry of Livestock should instead operate as an agency under the Federal Ministry of Agriculture to avoid duplication and rising administrative costs.
BudgIT added that implementing these reforms alongside the phased execution of the Oronsaye Report would help reduce recurrent expenditure, improve fiscal discipline and enhance efficiency in public spending.

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Mark Itsibor

Mark Itsibor

Mark Itsibor is an economy and finance journalist with over 13 years of experience across Nigeria's media landscape, specialising in macroeconomic policy, financial markets, fiscal reforms, and public finance. He is known for well-researched reports and analytical features that inform policy conversations and support public understanding of complex economic developments.

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