• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Federal Gov’t Urged To Release Funds For 2024 Capital Budget

by Leadership News
6 months ago
in News
2024 Capital Budget
Share on WhatsAppShare on FacebookShare on XTelegram

A group, The National Coalition on Accountability and Probity in Governance (NCAPG) has expressed concern over delay by the Federal Government to release funds for the 2024 capital budget.

Advertisement

The delay according to the group has resulted in significant economic challenges, including stalled projects, increased unemployment, and reduced consumer spending.

According to the NCAPG, the government’s inability to release capital to contractors has created a ripple effect across various sectors, leading to a decline in economic activity.

Speaking at a press conference, its national coordinator, Igwe Ude Umanta said many businesses, particularly those owed by the government for contracts executed, face severe financial difficulties, including defaulting on loans and laying off workers.

“While we recognise and commend the Federal Government’s efforts to implement policies and reforms aimed at revitalizing our economy, it is evident that much more needs to be done to achieve stability and sustainable growth,” Umanta said.

RELATED

Saint Lucia Honours Tinubu with Highest National Award

Saint Lucia Honours Tinubu with Highest National Award

15 minutes ago
Rival Kano ‘Emirs’ Sanusi II, Bayero To See Face To Face At Dantata’s Burial

Rival Kano ‘Emirs’ Sanusi II, Bayero To See Face To Face At Dantata’s Burial

2 hours ago

“Apparently, Nigeria’s economy is presently experiencing significant challenges, exacerbated by limited liquidity, and a lack of substantial capital releases to contractors on projects execution.

“It is very unfortunate that this worrisome reality has created a ripple effect across various sectors, leading to reduction in economic activity, largely contributing to stalled projects, and creating a surge in unemployment ratio.

“Realistically right now, businesses, particularly those owed by the government for contracts executed, are facing dire straits. Many companies which are unable to recover payments are defaulting on loans, thereby leading to mounting debts, layoffs, and, in some cases, closures.

“Evidently, the Federal Government’s failure to make capital releases to contractors is at the heart of this economic stagnation. Capital projects are crucial drivers of economic activity, and the absence of funding for ongoing and new projects has led to significant setbacks, putting Capital release as missing catalyst which is very important to saddle the economy forward.

“Firstly, it is a pitiable realisation that contractors have been unable to complete critical infrastructure projects, from roads to healthcare facilities, which are vital to national development. Secondly, it is observed that the lack of liquidity in the economy has limited the purchasing power of citizens, further compounding the challenges of inflation and unemployment.

“It Is indeed acknowledged that the federal government is currently grappling with significant fiscal constraints. However, it is imperative for the FG to recognize that capital releases are not merely expenditures—they are investments that stimulate economic growth, create jobs, and improve infrastructure.”

The NCAPG urged the federal government to prioritise economic stability and transparency in governance. The group emphasises that the government must take immediate action to address the nation’s challenges, including prioritizing capital releases to stimulate economic activity and create jobs.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

N-HYPPADEC  Seeks Transparency, Accountability Through FoI Committee

Next Post

Oyebanji Urges Support For Soldiers, War Veterans

Leadership News

Leadership News

You May Like

Saint Lucia Honours Tinubu with Highest National Award
News

Saint Lucia Honours Tinubu with Highest National Award

2025/07/01
Rival Kano ‘Emirs’ Sanusi II, Bayero To See Face To Face At Dantata’s Burial
News

Rival Kano ‘Emirs’ Sanusi II, Bayero To See Face To Face At Dantata’s Burial

2025/07/01
Commuters, Staff Stranded As Poly Ibadan Students Protest Renaming Of Institution
News

Commuters, Staff Stranded As Poly Ibadan Students Protest Renaming Of Institution

2025/07/01
Sokoto: APC Guber Candidate, Aliyu, In Early Lead
News

Gov Aliyu Unveils Water Project

2025/07/01
ASUU Strike: JAMB Insists 2020-2021, 2021- 2022 Admissions Not Elapsed
News

FUTA, JAMB At Odds Over Students’ Status After 6 Years Of Study

2025/07/01
Nigeria Is In Our DNA, Says Lucian PM
News

Nigeria Is In Our DNA, Says Lucian PM

2025/07/01
Leadership Conference advertisement

LATEST

Saint Lucia Honours Tinubu with Highest National Award

Troops Kill Terror Kingpin Yellow Danbokolo In Zamfara

Rival Kano ‘Emirs’ Sanusi II, Bayero To See Face To Face At Dantata’s Burial

1 Dies, Homes Razed As Family Members Clash Over Farmland In Plateau

Police Arrest 5 Suspected Cattle Rustlers, Armed Robbers In Yobe

WAFCON 2024: Madugu Demands More From Super Falcons

Transfer: Atalanta Insist On €50m Price Tag For Lookman

Arsenal In Talks With Eze’s Representatives For Summer Move

Giroud Excited To Join Lille After LAFC Exit

FIFA Promises Good Quality Pitches For 2026 World Cup

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.