By Frontline Reporters
The Presidency has announced the commencement of payments for outstanding 2024 capital projects, alongside the settlement of debts inherited from previous administrations.
The disclosure was made in a statement issued by Sunday Dare, Special Adviser to President Bola Ahmed Tinubu on Media and Public Communications.
According to the statement, the Federal Government has started disbursing funds to contractors and other stakeholders involved in unfinished projects captured under the 2024 capital budget.
The Presidency further revealed that full implementation of the capital components of both the 2024 and 2025 budgets is targeted for completion on or before March 31, 2026.
“Payments for outstanding 2024 capital projects have now commenced, in addition to the settlement of indebtedness from previous administrations,” the statement read.
It added that for the 2025 capital budget, all Ministries, Departments, and Agencies (MDAs) have been directed to submit or upload their cash plans by the close of business on Monday, February 23, 2026.
“Payment processing will begin immediately thereafter,” the statement noted.
The move is seen as part of the administration’s efforts to accelerate budget execution, stimulate economic activity, and restore confidence among contractors and investors concerned about delayed government payments.
Industry observers say timely releases for capital projects are critical to infrastructure delivery, job creation, and overall economic growth.
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