FG Commences Payments for Outstanding 2024 Capital Projects
The Federal Government has commenced payments for outstanding 2024 capital projects as part of efforts to clear a backlog of unpaid contracts and inherited debts from previous administrations.
The Special Adviser to the President on Public Communications and Orientation, Sunday Dare, disclosed the development on his verified X handle on Friday, saying the payments were aimed at accelerating capital budget implementation ahead of the March 31, 2026 deadline.
“Payments for outstanding 2024 capital projects have now commenced, in addition to settlement of indebtedness from previous administrations,” Dare stated.
He added that full implementation of the capital components in both the 2024 and 2025 budgets is targeted for completion on or before March 31, 2026.
The announcement follows months of complaints from contractors and pressure from the National Assembly over delayed payments that stalled infrastructure projects nationwide.
For the 2025 capital budget, all Ministries, Departments, and Agencies have been directed to submit cash plans by close of business on Monday, February 23, 2026, with payment processing to begin immediately thereafter.
The development comes after President Bola Tinubu presented the N58.18tn 2026 Appropriation Bill to the National Assembly, pledging to end the practice of running multiple budgets. Tinubu noted in his December 2025 budget speech that only N3.10tn, or 17.7 per cent, of the 2025 capital budget had been released by the third quarter due to a focus on completing priority 2024 projects.
As of June 2025, N2.23tn had been released for 2024 capital projects. The Minister of State for Finance, Doris Uzoka-Anite, previously assured the Senate Committee on Appropriations that all outstanding payments under the 2024 and 2025 budgets would be processed before the end of March.
The move follows protests by indigenous contractors at the National Assembly complex in Abuja over unpaid bills, which prompted lawmakers to demand full implementation of the 2024 Appropriation Act’s capital component.
President Tinubu directed key officials, including the Minister of Finance and the Director-General of the Budget Office, to ensure strict implementation of the 2026 budget in line with appropriated details and timelines. He announced that from April 2026, Nigeria would operate on a single budget backed by a single revenue cycle.
The 2026 capital expenditure is estimated at N26.08tn, with allocations prioritising defence and security (N5.41tn), infrastructure (N3.56tn), education (N3.52tn), and health (N2.48tn).
