Budget Office: No Funds Released to PFIPC

The Director-General of the Budget Office of the Federation, Tanimu Kurfi, has disclosed that no funds appropriated to the Presidential Foreign Investment Promotion Council (PFIPC) were released because the agency failed to meet the legal requirements for public expenditure.

Kurfi made the disclosure while appearing before the House of Representatives Ad-hoc Committee investigating the establishment and budgetary provisions of the council, whose legal status has recently come under scrutiny.
He explained that although the National Assembly appropriated ₦1.303 billion for the PFIPC in the 2026 Appropriation Act, the legal and administrative conditions required before any public funds could be released were never fulfilled.
According to the Director-General, the Budget Office neither established the council nor approved its creation, recruitment, or administrative budget code. He noted that the office only assessed the fiscal implications of documents transmitted through official government channels.
The committee had earlier heard from several government institutions, including the Office of the Head of the Civil Service of the Federation and the Ministry of Foreign Affairs, both of which distanced themselves from the council, raising further questions about its legal status.