Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the implementation of the 2024 capital budget has so far reached 80 percent.
Gatekeepers News reports that Edun disclosed this in Abuja on Tuesday after a meeting with the House of Representatives Committee on Appropriation, chaired by Abubakar Bichi.
“Basically, overall it’s around 80%. And as you know, the budget for 2024 was extended by the national assembly till December, so it is still running. So, it is still a work in progress; it is still ongoing,” he said.
The minister explained that government projects under the budget are focused on grassroots development.
“We put our heads together to ensure that, particularly the projects that touch the grassroots, they provide support, resources, and facilities,” Edun added.
The National Assembly had in December extended the implementation of the 2024 capital budget to June 2025 at the request of President Bola Tinubu, to ensure key projects were completed. In June, with several projects still unfinished, lawmakers approved another six-month extension to December 2025. At the time, some legislators criticised the executive over slow execution and delayed fund releases.
Also speaking after the meeting, Minister of Budget and National Planning, Atiku Bagudu, said lawmakers commended the Tinubu administration for respecting the National Assembly and sustaining a cooperative relationship.
“They commended the respect of the federal government for the national assembly and the excellent working relationship between the two arms,” Bagudu said. “They restated that they have supported all the major reform initiatives which have produced results, including the latest tax reforms.”
Representatives of the Accountant-General’s Office and the Debt Management Office (DMO) were also present at the meeting.
