The Federal Government has refined the execution framework for its 2025 capital budget, aiming to unlock private sector confidence, streamline infrastructure delivery, and ensure optimal use of public resources.
The announcement was made following a high-level session convened in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who met with senior government officials to align budget implementation with President Bola Ahmed Tinubu’s economic transformation agenda.
According to a statement by Mohammed Manga, Director of Information and Public Relations, the revised framework integrates unspent capital funds from 2024 into the 2025 budget via the Government Integrated Financial Management Information System (GIFMIS).
This approach is designed to improve disbursement efficiency and ensure that every naira is deployed toward productive investments.
“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.”
Under the new guidelines, Ministries, Departments, and Agencies (MDAs) must secure budgetary warrants before entering into contracts, aligning public expenditure with available cash and enforcing strict financial controls.
This measure is expected to reduce fiscal leakages, improve payment cycles, and enhance transparency in government spending.
Edun emphasized that transparent and efficient budget execution is central to achieving the administration’s goal of 7% GDP growth, a target aimed at lifting millions of Nigerians out of poverty and positioning the country for long-term prosperity.
“For the private sector, these reforms signal a more predictable fiscal environment, stronger infrastructure pipelines, and improved investor confidence,” he added.
The capital budget refinement is part of a broader reform agenda under President Tinubu’s Renewed Hope Initiative, which includes bank recapitalization, foreign exchange liberalization, fuel subsidy removal, and tax restructuring.
These reforms are designed to stabilize the economy, attract investment, and grow Nigeria’s GDP to $1 trillion by 2030, up from the current $243 billion.
The government’s commitment to fiscal discipline was also highlighted in recent briefings to the National Assembly, where Edun outlined progress in revenue generation and expenditure management. According to the Federal Ministry of Information, the administration achieved 100% implementation of recurrent expenditure in 2024, despite economic headwinds.
To ensure accountability, the Federal Government has tasked relevant agencies with monitoring the integration of capital funds and enforcing compliance with the new budget execution protocols.
The reforms are expected to send a strong signal to both domestic and international investors that Nigeria is serious about building a resilient and transparent fiscal system.
With these measures in place, Nigeria is poised to unlock its economic potential, drive sustainable growth, and build a future anchored on sound public finance and inclusive development.