The Accountant-General of the Federation (AGF), Dr. Shamseldeen Ogunjimi, announced that 30% of the 2025 Capital Budget implemented by the end of November. Warrants have already issued to Ministries, Departments, and Agencies (MDAs) to begin execution.
Dr. Ogunjimi shared this update during a stakeholders’ meeting. On the extended 2025 Capital Budget implementation, held at the Federal Ministry of Finance in Abuja.
According to a statement released on Thursday by Bawa Mokwa, Director of Press and Public Relations at the AGF’s office. The Government Integrated Financial Management Information System (GIFMIS) has fully restored. This restoration will enable smoother processing of capital payments.
Key Highlights from the Statement:
- Dr. Ogunjimi confirmed that Treasury House will start implementing the 30% portion of the 2025 Capital Budget by the end of next week.
- He explained that 30% of the 2025 Capital Budget will executed by November 31, 2026. While the remaining 70% has rolled over into the 2026 Capital Budget. This approach aligns with President Bola Tinubu’s directive to ensure seamless project implementation.
- Warrants for the 30% allocation have been issued to MDAs, and Treasury House is set to begin execution soon.
This decision effectively shifts a significant portion of the 2025 capital allocations into the current fiscal year. While the majority has carried forward to the 2026 budget to avoid disruptions to ongoing projects.
Minister Emphasizes Compliance with Procurement Rules
The Minister of State for Finance, Mrs. Doris Uzoka-Anite, has instructed MDAs to strictly adhere to the Public Procurement Act. When implementing the 2025 and 2026 capital budgets. She emphasized that all capital disbursements must follow due process and warned against processing payments outside approved procedures.
Key points from her directive include:
- All capital projects must comply with Procurement Act and backed by available funds before execution.
- No payments should processed outside approved procurement guidelines.
Mrs. Uzoka-Anite also assured stakeholders that the government has sufficient funds to clear outstanding obligations. She urged MDAs to update their documentation to enable faster payment processing.
“The government has adequate liquidity to settle pending payments,” she stated, encouraging MDAs to review and update their records for timely disbursements.
Director of Funds Issues Advisory
In his opening remarks, the Director of Funds, Steve Ehikhamenor, advised MDAs to:
- Stick to approved project allocations and avoid budget overruns.
- Return any unutilized or excess funds to the Treasury.
- Collaborate with GIFMIS officials for technical support.
This guidance aims to ensure efficient budget execution and compliance with financial regulations.
