The Federal Government has merged unspent 2024 capital allocations into the 2025 capital budget, in a move Finance Minister Wale Edun says will improve efficiency and accountability in public spending.
The decision, to be implemented through the Government Integrated Financial Management Information System (GIFMIS), aims to streamline disbursements and channel funds toward “productive investments,” according to a statement by Ministry spokesperson Mohammed Manga.
Under the revised framework, all ministries, departments, and agencies must secure warrants before signing contracts — a measure intended to align commitments with available cash and enforce strict financial regulations.
Edun described transparent budget execution as vital to President Bola Tinubu’s economic growth agenda, which targets a GDP expansion of at least 7 percent to lift millions out of poverty. For the private sector, he said, the reforms promise a more predictable fiscal environment, faster payment cycles, and stronger infrastructure pipelines to spur investment and job creation.
“Nigeria’s future growth depends on effective, honest, and targeted spending,” Edun said. “We must ensure that public resources work harder for our people and our economy.”
