The Federal Government has pledged to introduce a real-time budget reporting system to improve transparency and enable Nigerians to monitor the implementation of capital projects across the country.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the disclosure on Monday during a panel session titled “Reforms in Focus: The Milestones, the Challenges, the Prospects” at the fifth Nigeria Employers’ Summit in Abuja.
According to the minister, President Bola Tinubu has directed the harmonisation of federal projects to strengthen transparency, coordination and public accountability.
He acknowledged that there is room for improvement in budget implementation but insisted that the level of capital project execution is significantly higher than figures commonly reported in the public domain.
Speaking during the session, the minister said many capital projects are executed directly by government agencies, while others are large-scale legacy projects whose implementation reports often take longer to reflect in official records.
He explained that this reporting gap has contributed to the perception that capital budget implementation remains poor.
To address the issue, he said the Ministry of Finance is developing a transparent reporting platform that will allow Nigerians to monitor government spending and project implementation through the ministry’s website.
According to him, the platform will provide accurate and up-to-date information on the progress of capital projects and present a clearer picture of budget performance.
The minister also disclosed that the Ministry of Finance is collaborating with the Ministry of Budget and Economic Planning to reform project implementation and consolidate information on all federal projects into a single digital platform.
He said the harmonised system would improve accountability by making it easier for citizens to access information on government projects.
The minister also defended the Federal Government’s rising debt servicing costs, attributing the increase to higher interest rates introduced to curb inflation.
He explained that borrowing costs have risen sharply since the implementation of the government’s economic reforms, making debt servicing more expensive.
According to him, government borrowing costs increased from an average of about eight per cent before the reforms to as high as 24 per cent, significantly raising interest payment obligations.
He argued that while many economists have praised the Central Bank of Nigeria’s decision to increase interest rates to combat inflation, they often overlook the resulting impact on government borrowing costs.
The minister added that inflation has also increased the cost of governance, forcing the government to spend substantially more to execute projects and provide public services.
Despite these challenges, he maintained that the administration has continued to make progress in implementing economic reforms.
On infrastructure financing, the minister said the government plans to attract more private sector investment into commercially viable infrastructure projects.
He explained that government resources would instead be directed towards social infrastructure such as schools and other essential public facilities that may not generate commercial returns but remain critical for national development.
The minister also identified the power sector as one of the administration’s key priorities, noting that discussions are ongoing to introduce market-driven reforms while protecting vulnerable Nigerians.
The government’s assurance comes amid growing concerns over the pace of capital budget implementation and the gap between approved budget allocations and actual releases.
Recent findings from the Open Treasury Portal showed that between 2023 and April 2026, the Federal Government released approximately N2.68 trillion for the construction, rehabilitation and maintenance of roads and bridges, despite budgeting N54.93 trillion for road projects during the same period.
The releases represented only about five per cent of the total budgeted amount, raising concerns over financing constraints affecting infrastructure delivery.
Available data showed that road projects received allocations of N2.53 trillion in 2023, N9.39 trillion in 2024, N7.22 trillion in 2025 and N35.79 trillion within the first four months of 2026.
However, actual releases amounted to N631.51 billion in 2023, N784.60 billion in 2024, N670.68 billion in 2025 and N597.08 billion between January and April 2026.
These figures translated to implementation rates of 24.95 per cent, 8.36 per cent, 9.29 per cent and 1.67 per cent, respectively.
The figures have continued to attract criticism from economists and industry stakeholders, who argue that low capital releases have delayed major infrastructure projects and constrained economic growth.
Nigeria has historically recorded low capital budget implementation due to revenue shortfalls, delayed fund releases and bureaucratic bottlenecks.
The Federal Government’s 2026 budget allocates substantial funding to infrastructure, transportation, energy and social investments, with officials expressing confidence that improved transparency and enhanced project monitoring will strengthen public trust in government spending.
