FG commences 2024 capital projects payments, sets March 31 deadline

2026-02-24 06:19:23

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.

This was disclosed by the Special Adviser on Media and Public Communication to President Bola Tinubu, Sunday Dare, in a post on X on Friday.

The development signals a renewed push by the administration to clear backlogs and accelerate budget execution, while directing Ministries, Departments and Agencies (MDAs) to fast-track documentation for the 2025 capital budget.

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What they are saying

The Presidency said payments for outstanding 2024 capital projects have officially commenced, alongside the settlement of inherited obligations. It also directed all MDAs to submit their 2025 cash plans to enable immediate processing of payments.

_“Payments for outstanding 2024 capital projects have now commenced.” _
_“Full implementation of the capital components in both the 2024 and 2025 budgets targeted for completion on or before March 31, 2026.” _
“For the 2025 capital budget: All Ministries, Departments and Agencies (MDAs) have been directed to submit/upload their cash plans by close of business on Monday, February 23, 2026. Payment processing will begin immediately thereafter.”

The directive effectively places a timeline on MDAs to comply with documentation requirements to ensure the smooth rollout of capital disbursements.

Backstory

The announcement follows earlier assurances from the 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 on the proposed N58.472 trillion 2026 Appropriation Bill.
She said the financial management system had been restored and urged MDAs to complete their documentation requirements for prompt disbursement.

“_Payments for outstanding 2024 capital projects start today. For 2025, MDAs have been asked to upload their cash plans by Monday, after which payments will commence,” _Uzoka-Anite said.

The session later went into a closed-door meeting before lawmakers adjourned further consideration of the budget bill.

What you should know

In December 2025, President Bola Tinubu asked the National Assembly to repeal and re-enact the 2024 and 2025 budgets and extend the 2025 budget to 31 March 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 Federal Government confirmed the payment of N152 billion to contractors for verified contracts, as indigenous contractors resumed protests in Abuja over alleged unpaid debts.

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