Oritsegbubemi Omatseyin
Lagos — The Federal Government has taken a significant step towards accelerating economic growth and development by refining the implementation of its 2025 capital budget. 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 Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, 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 Government Integrated Financial Management Information System, GIFMIS platform, streamlining disbursements and ensuring that every naira is deployed towards productive investments.
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.
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 7% 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.
“Nigeria’s future growth depends on effective, honest, and targeted spending. We must ensure that public resources work harder for our people and our economy,” Edun said.
With these reforms, Nigeria is poised to unlock its economic potential and drive sustainable growth. By prioritizing 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.
