Nigeria’s economic engine appears to be sputtering, and a prominent voice is pointing fingers directly at the Ministry of Finance. Akinloye Oyeniyi, a legislative consultant, has laid bare a stark accusation: the ministry is deliberately holding back vital capital funds meant for development projects, all while ensuring salaries and recurrent expenses are paid on time. This, he argues, is not just a bureaucratic hiccup, but a deliberate act that’s crippling the nation’s progress and sabotaging the implementation of key budgets, including the ambitious 2025 plans. Get ready to understand the potential consequences of this alleged financial strategy.
The Alarming Allegation: Capital Funds vs. Salaries
In a no-holds-barred interview with ARISE NEWS, Oyeniyi painted a grim picture of Nigeria’s budgetary landscape. He explained that government budgets are typically split into two main components: recurrent expenditure, which covers the day-to-day running of ministries, departments, and agencies (MDAs) – think salaries, office supplies, and administrative costs; and capital expenditure, which funds the big-ticket items like infrastructure development, road construction, and other physical projects that truly move a nation forward.
According to Oyeniyi, while budget implementation seemed to be on a smoother path in 2023, a worrying trend emerged in 2024. He claims that the capital portion of the budget has been systematically “withheld,” while the recurrent side continues to get its due. This pattern, he asserts, has alarmingly continued into 2025, evidenced by public complaints from ministers themselves, like the Minister of Health, who reportedly stated that only a paltry 36 million Naira out of billions allocated for his ministry’s 2025 budget had been released. This is a serious concern for everyone.
Why This Stratagy Could Be Sabotaging Nigeria
Oyeniyi argues that this prioritization of salaries and administrative costs over tangible development projects is a fundamental misunderstanding of what drives national progress. “You can be paying salaries, you can be buying vehicles, you can be buying computers… but the main aspect of the budget is not being attended to,” he stated, emphasizing that the core purpose of a budget is to facilitate growth and improve the lives of citizens through development.
Who’s Really to Blame?
When it comes to accountability, Oyeniyi doesn’t mince words. He places the ultimate responsibility squarely on the shoulders of the Presidency and the Ministry of Finance. He mentioned that the President has repeatedly instructed the Minister of Finance and Coordinating Minister of the Economy to facilitate these releases. However, even with a new Accountant General in place, the funds remain elusive, leaving many wondering what’s truly going on behind the scenes.
The National Assembly has also been vocal, reportedly summoning finance officials multiple times to explain the persistent lack of capital expenditure (CAPEX) releases. Oyeniyi believes the bottleneck isn’t at the National Assembly, but firmly within the Ministry of Finance itself.
The Underlying Motive? Avoiding Chaos, But At What Cost?
Oyeniyi offers a chilling perspective on why the Ministry of Finance might be intentionally prioritizing recurrent spending. He suggests it’s a calculated move to avoid immediate public outcry and potential unrest. By ensuring salaries are paid, the government avoids widespread civil disobedience. However, he warns that this approach is short-sighted and ultimately detrimental to the nation’s long-term stability and prosperity. “When you hold on to the capital, it will only paint a bad picture of the government to the populace. But when you hold on to the current, there is going to be a crisis,” he explained. He further elaborated that if salaries were withheld, “there is going to be chaos.” Oyeniyi calls this not a misjudgment, but a failure of leadership.
More Than Just Ministries: Even Lawmakers’ Projects Suffer
The impact of these withheld funds isn’t confined to federal ministries. Oyeniyi points out that even the constituency projects of National Assembly members, known as Zonal Intervention Projects (ZIPs), are reportedly not being funded. This means that projects intended to bring development directly to the people at the grassroots level are also being stalled.
The Public’s Growing Frustration
Contrary to any notion of public indifference, Oyeniyi insists that frustration is mounting. Both citizens and lawmakers have voiced their concerns. He dismissed claims that Nigerians are simply getting used to the situation, stating, “I can tell you the situation is getting worse. We shouldn’t get used to it.” For him, the solution is simple and urgent: “It’s our money now, and all these projects are for us. Let him release the money.” He believes that withholding these capital funds is not just denying citizens the dividends of democracy, but actively sabotaging the government’s own efforts.
What Needs to Happen Now?
The situation demands immediate attention and decisive action from the highest levels of government. The continued withholding of capital funds, while prioritizing recurrent expenditure, risks not only a stalled development agenda but also potential social unrest. Nigerians are looking for tangible progress, and that progress is inextricably linked to the effective release and utilization of capital budgets for infrastructure and development.
| Area of Concern | Alleged Action | Potential Consequence |
|---|---|---|
| Capital Expenditure | Deliberately withheld by Ministry of Finance | Stalled infrastructure projects, delayed development |
| Recurrent Expenditure (Salaries) | Prioritized for release | Avoidance of immediate civil unrest, but at long-term cost |
| Zonal Intervention Projects (ZIPs) | Reportedly unfunded | Lack of grassroots development, unmet constituent needs |
The call is for transparency, accountability, and a swift redirection of funds to where they are most needed – building a stronger, more prosperous Nigeria for all.