By Charles Ebi
To streamline disbursements and ensure every Naira is deployed towards productive investments, the Federal Government has integrated unspent 2024 capital funds into the 2025 budget through the Government Integrated Financial and Management Information System ,GIFMIS, platform.
The GIFMIS platform was designed to improve the acquisition, allocation, utilisation and conservation of public financial resources using automated and integrated, effective, efficient and economic information systems.
The government is rolling over the unspent funds for capital projects last year into this year to accelerate economic growth and development by refining the implementation of its 2025 capital budget in a bid to unlock private sector confidence, drive infrastructure delivery, and sustain economic growth and development.
Under the revised framework, Ministries, Departments, and Agencies ,MDAs, of the Federal Government must secure warrants before entering into contracts, aligning public expenditure with cash availability and strict financial regulations.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, at a meeting with senior government officials in Abuja on Wednesday, underscored that transparent and efficient budget execution is critical to President Bola Tinubu’s growth agenda, which targets gross domestic group ,GDP, expansion of at least 7% to lift millions out of poverty.
For the private sector, the reforms signal a more predictable fiscal environment, improved payment cycles, and stronger infrastructure pipelines, essential foundations for investment, and job creation.
The Minister said Nigeria’s future growth depends on effective, honest, and targeted spending, noting, “We must ensure that public resources work harder for our people and our economy.
”With these reforms, Nigeria is poised to unlock its economic potential and drive sustainable growth. By prioritizing transparent and efficient budget execution, the government is sending a strong signal to investors and citizens alike that it is committed to building a better future for all Nigerians, he stated in a statement signed by the Director of Information and Public Relations at the ministry, Mr Mohammed Manga.
