The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has directed Ministries, Departments, and Agencies to ensure they obtain warrants and Authority to Incur Expenditure before committing to any financial obligations or signing contracts.
Edun said this during the Stakeholders’ Engagement on the Implementation of the 2025 Capital Budget and Related Issues in Abuja.
He says that the policy ensures that payments to suppliers, contractors, and other government beneficiaries are made directly into their nominated accounts, bypassing intermediaries.
Edun also reflected on the increase in government revenue under the leadership of President Bola Tinubu, saying that the next challenge is ensuring that these funds are efficiently invested in projects that stimulate economic growth.