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FG Directs MDAs To Defer 70% of 2025 Capital Budget to 2026

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Tinubu 2025 budget

By Adedapo Adesanya

The federal government has directed Ministries, Departments and Agencies (MDAs) to carry over 70 per cent of their 2025 capital allocations into the 2026 fiscal year.

The directive was contained in the 2026 Abridged Budget Call Circular issued by the Ministry of Budget and Economic Planning and circulated to ministers, service chiefs, and heads of agencies.

The circular said the government had adopted a new framework that caps all 2026 capital budget ceilings at 70 per cent of 2025 project allocations.

Only 30 per cent of this year’s capital budget will be released in 2025, while the remaining 70 per cent forms the foundation of next year’s capital spending.

The notice laid out strict guidelines for preparing next year’s spending plan, including a ban on introducing new capital projects, noting that the administration prioritises completing ongoing projects amid weak revenues and rising fiscal pressures.

It said MDAs must “upload 70 per cent of their 2025 FGN Budget to continue in FY2026” and ensure that all rollover items align with the administration’s priorities—national security, economic growth, education, health, agriculture, infrastructure, power, energy, and social safety nets.

The ministry said the policy is meant to prevent duplication, strengthen continuity and ensure that uncompleted projects are not abandoned, warning MDAs against attempting to exceed their 2025 overhead ceilings in their 2026 submissions, despite inflationary pressures.

“We are constrained by revenue challenges,” the circular said. “While we note the impact of inflation, proposals that exceed approved ceilings will be adjusted downward.”

The directive said the 2026 budget must reflect the strategies in the Medium-Term Expenditure Framework (2026–2028), the Renewed Hope Infrastructure Development Plan, the Ward Development Plan and the National Development Plan, as well as the Accelerated Stabilisation and Actualisation Plan.

MDAs must submit their budgets through the GIFMIS Budget Preparation Subsystem, while government-owned enterprises will submit via the Budget Information Management and Monitoring System. All submissions must be completed by Tuesday, December 9, 2025.

Statutory transfers are projected to drop from N3.64tn in 2025 to N3.15 trillion in 2026, while recurrent non-debt expenditure is estimated at N15.26 trillion.

Debt service obligations are set to rise sharply from N13.94 trillion this year to N15.52 trillion in 2026.

Aggregate capital expenditure is projected at N22.37 trillion, down from N26.19 trillion in 2025. Capital allocations for MDAs fall from N12.39 trillion to N8.67 trillion, while project-tied loans will shrink from N3.36 trillion to N2.05 trillion.

The deficit widens significantly to N20.12 trillion in 2026, from N14.10 trillion in the current year.

Personnel costs have already been computed using data from IPPIS and earlier submissions, the circular noted. Each ministry will be informed of its personnel cost ceiling for 2026.

The financial projections accompanying the circular show a more constrained revenue outlook for 2026.

Total funds available to the Federal Government, including GOEs, are projected at N54.46 trillion, down slightly from N54.99 trillion in 2025.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Empowering Women Goes Beyond Celebrating IWD, Others—Interswitch HR

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Interswitch HR Franklin Ali

By Modupe Gbadeyanka

The Group Chief Human Resource Officer of Interswitch, Mr Franklin Ali, has highlighted the importance of creating deliberate opportunities that support women’s professional growth.

Speaking at a virtual session organised by the company to commemorate International Women’s Day (IWD) 2026 under the theme Give to Gain, he noted that, “At Interswitch, we believe empowering women goes beyond celebrating milestones like International Women’s Day. It requires creating meaningful platforms where women can learn, share experiences, and gain the visibility needed to grow as leaders. Through initiatives like Give to Gain, we encourage our women to recognise the value they bring and confidently amplify their impact within the organisation and beyond.”

At the event, which also featured the Deputy Chief Executive of Stanbic IBTC Bank Limited, Ms Bunmi Dayo-Olagunju, the leading African technology company reaffirmed its commitment to empowering women across its workforce and fostering an inclusive workplace culture.

In her presentation, which focused on Give to Gain – Give Value, Gain Visibility, Ms Dayo-Olagunju emphasised the importance of intentional value creation and visibility in shaping professional growth for women in the workplace.

Drawing from her experience in the financial services sector, she also shared perspectives on how women can intentionally position themselves for greater impact, build influence within their organisations, and translate consistent value delivery into meaningful professional growth.

It was gathered that Interswitch distributed customised care packages to female employees across its offices. The gesture served as a token of appreciation for the resilience, dedication, and excellence demonstrated daily by women across the organisation.

Beyond the session and care packages, Interswitch continues to support women across its workforce through a range of internal policies to promote well-being and work-life balance. These include access to top-notch creche facilities, a robust maternity leave policy, and an exclusive spousal allowance initiative, all of which reinforce the company’s broader commitment to creating a supportive environment where women can thrive both professionally and personally.

This year’s International Women’s Day initiative reflects Interswitch’s recognition of the vital role women play in shaping the company’s continued growth and success. Across technology, operations, product development, finance, and leadership, women within the organisation continue to drive innovation and strengthen service delivery.

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Eight Die as Terrorists Blow up Niger Bridge

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bomb niger bridge

By Modupe Gbadeyanka

A bridge connecting the Luma-Babana-Agwara communities in Niger State was destroyed by terrorists on Monday. The incident claimed the lives of eight people.

The bridge is a vital route used by residents travelling to the Babanna border market, which operates every Monday.

According to reports, the hoodlums used an improvised explosive device (IED) to bring down the facility located along Luma Road in Borgu Local Government Area of Niger State.

The Chairman of Borgu Local Government, Mr Mohammed Nasir Abdullahi, who confirmed the attack, noted that authorities were working to verify the full extent of the damage.

“There was actually an attack by the bandits, and we are trying to verify the magnitude. A bridge was actually damaged. Already, we have sent people to the area to verify things for us,” Vanguard quoted him as saying.

It also quoted a source as saying, “In the early hours today, bandits stormed Borgu local government area of the state and bombed the Lunma-Babana bridge. Apart from bombing the bridge, the bandits also detonated bombs between Rafingiwa and Babana, and another at Woro and Kaiama, forcing residents to flee the area.”

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Obajana, Apata Inhabitants Complete Fish Farming, Entrepreneurship Training

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Dangote cement Obajana training

By Aduragbemi Omiyale

No fewer than 40 residents of Iwaa, Oyo, Obajana and Apata communities in Kogi State have completed a training programme on fish farming and entrepreneurship.

This is an initiative of the Obajana plant of Dangote Cement Plc designed to empower inhabitants of its host communities.

This scheme builds on a series of previous community empowerment programmes, including training in poultry production, solar entrepreneurship, and fashion design, among others.

At the graduation ceremony witnessed by representatives of the federal government, the Kogi State Government, and the Industrial Training Fund (ITF), as well as traditional rulers and other key stakeholders, the Plant Director, Mr Azad Nawabuddin, described the skills acquisition programme as a strategic scheme aimed at promoting job creation and driving overall economic development within the host communities.

“In learning the art and business of fish farming, you have embraced a cycle of life that teaches responsibility. You nurture, you wait, you adapt, and in time, you harvest. This mirrors the journey of community development itself: it is not built in a day, but through consistent effort, shared knowledge, and collective commitment,” he stated.

According to him, fish farming does not stand alone. It creates ripples by providing food for families, income for households, and opportunities for others.

“One fishpond can support a network: feed suppliers, transporters, market women, and processors. In this way, what begins as an individual skill becomes a communal asset,” he added.

Also commenting, the General Manager and Head of the Social Performance Department at Dangote Cement in Obajana, Mr Ademola Adeyemi, said the event was part of the Corporate Social Responsibility (CSR) scheme of the company.

“We don’t Lord ourself on the communities. We jointly agree to carry out this CSR programme. We invest proactively in skills, in people, and in ideas that can uplift communities. Through partnerships like the one we have with the Industrial Training Fund, we ensure that our interventions are not just well-intentioned, but impactful and sustainable,” he disclosed.

A representative of the Technical Adviser on CSR to the Kogi State Governor, Mr Akinola Oluropo Babatunde, commended Aliko Dangote for his support for communities in Kogi State.

He urged beneficiaries to make proper use of the opportunity and have a positive impact on their communities.

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