FG Realigns 2024, 2025 Capital Budgets, Orders MDAs to Secure Warrants Before Entering into Contracts, Others
CHIGOZIE AMADI
The federal government has reintegrated the unspent 2024 capital funds into the 2025 budget through the Government Integrated Financial Management Information System (GIFMIS) platform, streamlining disbursements and ensuring that every naira is deployed towards productive investments.
Under the revised framework, the federal government insisted that its Ministries, Departments, and Agencies (MDAs) must secure warrants before entering into contracts, in a move designed to align public expenditure with cash availability and strict financial regulations.
GIFMIS is an IT-based system for budget management and accounting introduced in 2003 by the federal government.
With the passage of the 2025 budget in January, the National Assembly had initially extended the implementation of the capital component of the 2024 budget to June 2025, and further extended it to December to run simultaneously with the current appropriation.
A statement issued by Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said the federal government had taken a significant step towards accelerating economic growth and development by refining the implementation of its 2025 capital budget.
According to Manga, “This strategic move is aimed at unlocking private sector confidence, driving infrastructure delivery, and sustaining economic growth and development.
“In line with this objective, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today (Wednesday) in Abuja, convened senior government officials to refine the implementation of Nigeria’s 2025 capital budget.
“The session addressed the integration of unspent 2024 capital funds into the 2025 budget through the GIFMIS platform, streamlining disbursements and ensuring that every naira is deployed towards productive investments.”
The statement added, “Under the revised framework, Ministries, Departments, and Agencies (MDAs) of the Federal Government must secure warrants before entering into contracts, aligning public expenditure with cash availability and strict financial regulations.
“HM Edun underscored that transparent and efficient budget execution is critical to President Bola Ahmed Tinubu’s growth agenda, which targets GDP expansion of at least seven per cent to lift millions out of poverty.
“For the private sector, the reforms signal a more predictable fiscal environment, improved payment cycles, and stronger infrastructure pipelines, essential foundations for investment, and job creation.”
The statement quoted Edun as saying, “Nigeria’s future growth depends on effective, honest, and targeted spending,” adding: “We must ensure that public resources work harder for our people and our economy.”
The statement added, “With these reforms, Nigeria is poised to unlock its economic potential and drive sustainable growth.
“By prioritising transparent and efficient budget execution, the government is sending a strong signal to investors and citizens alike that it is committed to building a better future for all Nigerians.”
