The Federal Government of Nigeria has commenced payments for outstanding 2024 capital projects as part of efforts to accelerate budget implementation and stimulate economic activity.
This was disclosed by the Special Adviser on Media and Public Communication to President Bola Tinubu, Sunday Dare, in a statement shared on X on Friday.
According to the announcement, payments for pending 2024 capital projects have officially begun, alongside the settlement of inherited financial obligations from previous administrations. The government also set a deadline of February 23 2026 for all Ministries Departments and Agencies to submit their cash plans for the 2025 budget.
Once the submissions are completed, payment processing for the 2025 capital expenditure will commence immediately. The administration aims to fully implement the capital components of both the 2024 and 2025 budgets on or before March 31 2026.
The Minister of State for Finance, Doris Uzoka-Anite, reaffirmed the commitment during an interactive session between the Senate Committee on Appropriations and the federal government’s economic team on the proposed 2026 Appropriation Bill. She assured lawmakers that the financial management system has been restored and urged MDAs to complete required documentation to ensure prompt disbursement.
Also present at the session were the Minister of Budget and Economic Planning, Atiku Bagudu, and the Accountant General of the Federation, Shamsedeen Babatunde Ogunjimi.
The renewed push for capital expenditure implementation is expected to boost infrastructure development, enhance public service delivery and inject liquidity into critical sectors of the Nigerian economy.
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