Ndubueze Canvasses Funding, Capital Project Implementation at 2026 Budget Defence
Senator representing Imo North Senatorial District, Engr. Patrick Ndubueze, on Monday raised concerns over what he described as the absence of funding and implementation of capital projects in the 2025 fiscal year, urging the Federal Ministry of Industry, Trade and Investment to prioritise capital expenditure in the 2026 budget.
Ndubueze, who is a member of the Senate Committee on Industry, Trade and Investment, made the call during the ministry’s budget defence session at the National Assembly. He argued that the zero allocation and execution of capital projects ran contrary to the Federal Government’s Renewed Hope Agenda.
The senator stressed that development-driven governance could not be achieved without deliberate investment in capital projects, noting that over-reliance on recurrent expenditure, particularly salaries, would undermine economic growth and industrial expansion.
“This pattern of budget implementation does not reflect the aspirations of the Renewed Hope Agenda,” Ndubueze said, calling on ministries to adopt innovative approaches and alternative funding mechanisms to drive project execution.
He further warned that restricting government spending largely to wage payments amounted to operating a socialist-style economy rather than a capitalist, growth-oriented one. According to him, such an approach was politically and economically counterproductive, especially for the ruling All Progressives Congress (APC), of which he is a member.
“The consequences are self-indicting for us as policymakers,” the senator added, noting that the lack of visible capital projects negatively impacts public perception and development outcomes.
In her response, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, acknowledged the concerns raised by the senator and other lawmakers. She outlined several innovative strategies the ministry intends to deploy to address the funding gap in the 2026 fiscal year.
Oduwole assured the committee that the ministry was working on sustainable solutions aimed at improving capital project funding and ensuring effective implementation to support industrial growth and trade development.
She reaffirmed the ministry’s commitment to aligning its programmes with national economic priorities and the broader objectives of the Renewed Hope Agenda.
