Payments for outstanding 2024 capital projects, alongside the settlement of debts inherited from previous administrations, have commenced.
This was announced in a statement by Sunday Dare, the Special Adviser to President Bola Tinubu on Media and Public Communications.
According to Dare, the Federal Government has started disbursing funds to contractors and stakeholders involved in unfinished 2024 capital projects.
The presidency also disclosed that full implementation of capital components in both the 2024 and 2025 budgets is targeted for completion on or before March 31, 2026.
The statement read, “Payments for outstanding 2024 capital projects have now commenced, in addition to the settlement of indebtedness from previous administrations.
“1. Payments for outstanding 2024 capital projects have now commenced.
“2. Full implementation of the capital components in both the 2024 and 2025 budgets targeted for completion on or before March 31, 2026.
“3. For the 2025 capital budget: All Ministries, Departments, and Agencies (MDAs) have been directed to submit/upload their cash plans by the close of business on Monday, February 23, 2026. Payment processing will begin immediately thereafter.
