The Federal Government has rolled over the unspent 2024 capital funds into the 2025 budget via the Government Integrated Financial Management Information System, enhancing disbursement efficiency and ensuring every naira is directed toward productive investments.

Under the updated framework, the federal government emphasized that all Ministries, Departments, and Agencies must obtain warrants before entering into contracts, ensuring that public spending aligns with available cash and strict financial regulations.

GIFMIS, an IT-based budget management and accounting system, was introduced by the federal government in 2003 to enhance financial oversight.

Following the passage of the 2025 budget in January, the National Assembly had initially extended the execution of the 2024 capital budget to June 2025, and later further extended it to December so it could run concurrently with the current appropriation.

In a statement, Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, said the government had taken a major step toward accelerating economic growth 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 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,” Manga stated.

“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 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,”