FG Begins Payment of Outstanding 2024 Capital Projects

By Emmanuel Kwada

The Federal Government has announced the commencement of payments for delayed capital projects from the 2024 budget, alongside efforts to clear inherited debts from previous administrations.

Special Adviser to the President on Media and Public Communication, Sunday Dare, made the disclosure in a statement today, following an interactive session between the Senate Committee on Appropriations and members of the economic team.

According to Dare, payments for outstanding 2024 capital projects are now underway. The government has set a firm target to achieve full implementation of the capital components in both the 2024 and 2025 budgets on or before March 31, 2026.

For the 2025 capital budget, all Ministries, Departments and Agencies (MDAs) have been directed to submit and upload their cash plans by the close of business on Monday, February 23, 2026. Payment processing is expected to begin immediately after the submissions.

The announcement comes amid concerns raised by the Senate over poor capital releases in previous years and the need for better budget implementation. Minister of State for Finance, Dr. Doris Uzoka-Anite, who appeared before the committee, confirmed that the government’s financial management system has been fully restored, enabling smoother disbursement of funds.

Lawmakers had expressed dissatisfaction with delays in project execution and unrealistic revenue projections in the proposed ₦58.472 trillion 2026 Appropriation Bill. The fresh move is seen as part of efforts to address these longstanding issues, boost infrastructure development and restore confidence in fiscal management under President Bola Tinubu’s administration.