BUDGET: SECURE WARRANTS BEFORE ENTERING INTO CONTRACTS; EDUN TELLS MDAS

The Federal Government say it has taken a significant step towards accelerating economic growth and development by refining the implementation of its 2025 capital budget. 

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, today in Abuja,  convened senior government officials to refine the implementation of Nigeria’s 2024 capital budget which has now been incorporated into the 2025 budget. 

The ministry in a statement described it as a strategic move, aimed at unlocking private sector confidence, driving infrastructure delivery, and sustaining economic growth and development.

According to a statement my Mohammed Manga, Director Information and Public Relations at the ministry, 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. 

Under the revised framework, the statement disclosed that 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.

Mr 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, Edun said, while emphasising that “we must ensure that public resources work harder for our people and our economy”.

The statement concludes that with these reforms, Nigeria is poised to unlock its economic potential and drive sustainable growth.