The Federal Government of Nigeria has commenced payments for outstanding capital projects captured in the 2024 budget, signaling a renewed push to accelerate infrastructure development and clear inherited financial obligations.
The Special Adviser on Media and Public Communication to President Bola Ahmed Tinubu, Sunday Dare, disclosed this in a post on his verified X handle on Friday. According to him, the payments cover not only outstanding 2024 capital projects but also the settlement of indebtedness carried over from previous administrations.
“Payments for outstanding 2024 capital projects have now commenced, in addition to the settlement of indebtedness from previous administrations,” the statement read. Dare further revealed that all Ministries, Departments and Agencies (MDAs) have been directed to submit their cash plans for the 2025 budget by the close of business on Monday, February 23, 2026.
He explained that payment processing for the 2025 capital projects would begin immediately after the submission of the cash plans. The presidential aide added that the Federal Government is targeting full implementation of the capital components of both the 2024 and 2025 budgets on or before March 31, 2026. “Full implementation of the capital components in both the 2024 and 2025 budgets [is] targeted for completion on or before March 31, 2026,” he stated.
The development is expected to boost project delivery across key sectors of the economy, as MDAs move to access funds for ongoing and newly approved capital projects under the current fiscal framework.
