FG merges unspent 2024 CAPEX with 2025 budget

By Omodele Adigun

The Federal Government has integrated the unspent 2024 capital funds into the 2025 budget through the GIFMIS platform, streamlining disbursements and ensuring that every naira is deployed towards productive investments.

This decision was announced at a session between the Minister of Finance and the Coordinating Minister of Economy, Wale Edun, and senior government officials to refine the implementation of Nigeria’s 2025 capital budget.

The 2024 approved budget is anchored on N28.78 trillion total expenditure, and N19.60 trillion revenue: Debt service/Sinking Fund of N8.27 trillion, Recurrent (Non-Debt) expenditure of N8.77 trillion, and Capital expenditure of N7.72 trillion. Of the N10 trillion capital expenditure, the session was silent on the implementation, the remaining amount, and the unexecuted projects.

The 2025 budget is N54.99 trillion, and Capital expenditure got a notable boost, rising to N23.4 trillion (42.6 per cent of total spending) from N7.72 trillion in 2024, signalling a push for infrastructure and economic investment. However, the government is still silent on how much of the capital votes have been spent, eight months into the year.

Edun said the new decision is a significant step towards accelerating economic growth and development by refining the implementation of its 2025 capital budget. He also noted the strategic move will unlock private sector confidence, driving infrastructure delivery, and sustaining economic growth and development.