The Federal Government has started payments for pending 2024 capital projects and set March 31, 2026. As the deadline to fully implement the capital components of the 2024 and 2025 budgets.
This update shared by Sunday Dare, the Special Adviser on Media. And Public Communication to President Bola Tinubu, in a post on X (formerly Twitter) on Friday.
Also the move highlights the administration’s commitment to clearing backlogs and speeding up budget execution. Ministries, Departments, and Agencies (MDAs) have also instructed to expedite documentation for the 2025 capital budget.
Key Details:
Payments and Deadlines:
The Presidency confirmed that payments for outstanding 2024 capital projects have officially begun. Alongside the settlement of inherited obligations. MDAs have directed to submit their 2025 cash plans promptly to enable swift payment processing.
- Payments for 2024 capital projects are now underway.
- Full implementation of the 2024 and 2025 capital budgets is target for completion by March 31, 2026.
- For the 2025 capital budget, MDAs must submit or upload their cash plans by the close of business on Monday, February 23, 2026. Payment processing will begin immediately after submission.
This directive sets clear timelines for MDAs to meet documentation requirements, ensuring smooth and timely disbursement of funds.
Background:
The announcement follows earlier assurances from the Minister of State for Finance, Doris Uzoka-Anite. That all outstanding capital payments under the 2024 and 2025 budgets will be processed by the end of March 2026.
