Abuja, Nigeria – The Federal Government has commenced payments for outstanding 2024 capital projects and set March 31, 2026, as the deadline for full implementation of capital components in both the 2024 and 2025 budgets.
Okay News reports that the development was disclosed by Sunday Dare, Special Adviser on Media and Public Communication to President Bola Tinubu, in a post on X on Friday. The Presidency said payments for outstanding 2024 capital projects have officially commenced, alongside the settlement of inherited obligations. It also directed all Ministries, Departments and Agencies to submit their 2025 cash plans by close of business on Monday, February 23, to enable immediate processing of payments.
The announcement follows earlier assurances from Minister of State for Finance, Doris Uzoka-Anite, that outstanding capital payments under the 2024 and 2025 budgets would be processed before the end of March. She made the assurance on Thursday during an interactive session between the Senate Committee on Appropriations and the Federal Government’s economic team. She said the financial management system had been restored and urged MDAs to complete their documentation requirements for prompt disbursement.
In December 2025, President Tinubu asked the National Assembly to repeal and re-enact the 2024 and 2025 budgets and extend the 2025 budget to March 31, 2026. The President explained that the bills seek to repeal the 2024 Appropriation Act of N35.06 trillion and re-enact it with a revised total expenditure of N43.56 trillion. The Federal Government had earmarked N100 billion in the 2026 budget for the settlement of outstanding obligations owed to indigenous contractors across the country. In January, the government confirmed the payment of N152 billion to contractors for verified contracts, as indigenous contractors resumed protests in Abuja over alleged unpaid debts.
What happens next depends on whether MDAs meet the documentation deadline and whether the government successfully clears outstanding obligations by the March 31 target. The push to accelerate capital projects implementation reflects the administration’s commitment to clearing backlogs and improving budget execution. Timely payment for capital projects is expected to stimulate economic activity and boost confidence among contractors.
