DESPITE complaints from Nigerians over the country’s over-borrowing, the Senate said yesterday the nation would continue to borrow to bridge its massive budget deficit.
It also vowed to end the long-standing practice of rolling over unimplemented budgets, warning Ministries, Departments and Agencies, MDAs, to brace up for stricter scrutiny.
The Senate equally declared that the National Assembly would no longer approve extension of budget implementation cycles, emphasising that strict timelines, stronger oversight and improved fiscal discipline would guide the execution of the 2026 Appropriation Act.
Speaking at a public hearing on “The 2026 Appropriation Bill” organised by the Senate Committee on Appropriations, the Chairman of the committee, Senator Olamilekan Adeola, APC, Ogun West, noted that borrowing had become unavoidable, given the country’s revenue constraints and huge development needs. He said: “Never again will the National Assembly approve budget extensions. We must discipline our budgeting cycle, enforce strict adherence to appropriation timelines and ensure better coordination between policy design and implementation.”
