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Ministers Raise Alarm as N10 Trillion Capital Funding Stalls

Federal and state ministers have expressed concern over a cash crunch as the disbursement of a N10 trillion capital funding package has stalled, they said at a public forum.

The comments were made during presentations at the Fiscal Sustainability Forum held in Abuja. Ministers from the Federal Government and state governments outlined challenges affecting infrastructure financing and budget execution.

The ministers said that the N10 trillion capital funding, intended to support infrastructure and development priorities, had not been fully accessed by implementing agencies. They said implementation bottlenecks had contributed to delays in project funding.

The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, said some ministries and agencies have been unable to draw down approved capital funds.

He said that the N10 trillion capital cash backing was crucial for accelerating infrastructure delivery across sectors.

Edun said the Federal Government had provided fiscal support arrangements, including funding frameworks and allocations, to enable spending on capital projects. However, several ministries, departments, and agencies had yet to execute or access the funds.

The Minister of Budget and Economic Planning, Abubakar Atiku, said delays in fund utilisation had affected the pace of infrastructure delivery. He noted that some agencies have not presented required project documentation necessary for fund release.

The forum was attended by state commissioners for finance and planning, who reviewed capital projects and budget performance.

A statement from the event said that inefficiencies in project planning and delays in regulatory approvals were among the issues slowing fund access.

Officials said that stalled capital funding had implications for public works such as road construction, healthcare infrastructure, and education facilities, without quantifying the specific impact.

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Michael Victor

Editor Green Horizon News

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