Nigeria to Launch Real-Time Capital Projects Tracking System

The Nigerian government is set to launch a real-time capital projects tracking system aimed at improving transparency in budget performance across the country. President Bola Tinubu has directed the harmonization of federal projects to enhance accountability.

During a panel session titled "Reform Focus: Milestones, Challenges, and Prospects," Taiwo Oyedele, the Chief Economist at the Ministry of Finance, acknowledged that the government's budget implementation often does not reflect the realities of public finance, particularly concerning capital projects. He indicated that the Ministry of Finance is working on a system to provide clearer transparency regarding government spending and project execution.

This system will allow Nigerians to track capital project implementation percentages easily via the Ministry of Finance's website. Oyedele also noted the government's efforts to attract private sector investment in commercially viable projects, particularly in social infrastructure, despite rising debt service costs driven by higher interest rates.