Federal Government Announces Reforms to Boost Growth and Investment
By Dickson Pat, Abuja
The Federal Government has unveiled a set of reforms to accelerate growth and attract private investment by tightening how the 2025 capital budget is executed.
Announcement and Objectives
Finance Minister and Coordinating Minister of the Economy Mr. Wale Edun announced the measures at a high-level meeting in Abuja. He said the changes aim to make public spending more disciplined and predictable.
Key Measures
Key steps include rolling unspent 2024 capital allocations into the 2025 budget through the Government Integrated Financial Management Information System (GIFMIS). Ministries, Departments and Agencies will also be required to secure warrants before signing new contracts.
Financial Controls and Investment Focus
Under the revised framework, capital commitments will be aligned to available cash flow and subject to stricter financial controls. The government says this will ensure funds are channelled into productive investments.
Economic Goals and Growth Targets
Edun said the reforms are central to President Bola Ahmed Ti...