The Federal Government has announced that implementation of the extended 30 per cent of the 2025 budget will commence by the end of next week.
It also informed that the implementation will run till 30 November 2026, contrary to the earlier promise by the President that the practice of running multiple budgets would end by March 2026, and from April, Nigeria would operate on a single budget backed by a single revenue cycle.
The Accountant-General of the Federation (AGF), Dr. Shamseldeen Babatunde Ogunjimi, who announced this during a stakeholders meeting on the implementation of the extended 2025 Capital Budget held in Abuja on Thursday, said that warrants have already been issued to MDAs and that Treasury House will commence implementation of the 30 per cent component of the 2025 Budget by the end of next week.
Dr. Ogunjimi explained that 30 per cent of the 2025 Capital Budget will be implemented between now and 30 November 2026, while the remaining 70 per cent has been rolled over into the 2026 Capital Budget to ensure seamless implementation, in line with the directive of the President.
He disclosed that the GIFMIS platform has been fully restored and is now operational.
Earlier, the Minister of State for Finance, Mrs. Doris Uzoka-Anite, directed Ministries, Departments and Agencies (MDAs) to strictly adhere to the provisions of the Public Procurement Act in the implementation and payment of the 2025/2026 Capital Budget. This, she said, is to curb the inherent waste associated with budget implementation in the country.
She emphasised that all capital payments must comply with the Procurement Act’s principles and that capital projects must be backed by cash before execution.
The minister warned that no capital payment should be processed outside approved procurement procedures.
She said further that the country has adequate funds to settle pending payments and urged MDAs to review and update their documentation to facilitate timely processing of payments.
Earlier, in his welcome address, the Director of Funds, Mr. Steve Ehikhamenor, told the MDAs to avoid budget overruns and strictly adhere to approved project items and their corresponding values.
He further cautioned MDAs not to exceed the amounts specified in their warrants, to return any unutilised or excess funds to the Treasury, and to liaise with GIFMIS officials for necessary technical support. He also encouraged them to ensure they complied with all relevant legal documentation.
The Federal Government could not implement the 2025 budget due to revenue shortfalls and delays in budget approval.
It would be recalled that the 2023 budget was extended to December 2024, while the 2024 budget was also extended to December 2025. These extensions left little room for implementing the current year’s budget, leading to attendant confusion.
