The budget office says the delay in publishing quarterly budget implementation reports was due to the extension of the 2025 budget implementation timeline to June 2026.
According to Tanimu Yakubu, the director-general (DG), the
repeal and re-enactment of the 2025 appropriation act in December last year
also affected the publication timeline.
On March 31, the national assembly extended implementation
of 2025 capital budget to June 30.
In a statement on Sunday, the DG said the extension altered
the normal fiscal reporting cycle and triggered additional reconciliation
processes across government agencies.
“The recent adjustment in the publication schedule arose
principally from the Repeal and Re-enactment process of the 2025 Appropriation
Act concluded in December 2025, together with the subsequent extension of the
implementation period of the 2025 Budget to June 2026,” Yakubu said.
“These fiscal adjustments effectively extended the
operational lifespan of the 2025 Budget beyond the conventional
twelve-calendar-month framework ordinarily associated with a fiscal year.”
According to Yakubu, the constitution does not impose a
rigid fiscal cycle on government spending.
“Sections 80 and 81 of the Constitution of the Federal
Republic of Nigeria, 1999 (as amended), do not constitutionalize a rigid
twelve-month fiscal implementation cycle,” the DG said.
He said they instead require that withdrawals from the
consolidated revenue fund be authorised by an Appropriation Act or other
legislation duly enacted by the national assembly.
“Where the National Assembly lawfully extends, reenacts, or
preserves expenditure authority beyond a single calendar year, such authority
remains legally valid and enforceable until its expiration under law,” Yakubu
said.
The DG said the process involved reviews of revenue
performance, cash management, expenditure alignment, debt records, and
financing updates.
Yakubu added that the agency was strengthening its digital
reporting systems and inter-agency coordination processes to improve fiscal
reporting.
He cited the United States and India as examples of
countries whose fiscal years differ from the calendar year.
The DG also referenced Nigeria’s post-COVID budget
extensions, saying they were introduced to sustain capital projects, preserve
contractors’ liquidity, and reduce economic disruptions.
“The Federal Government remains firmly committed to the
principles of open budgeting, fiscal discipline, transparency, constitutional
compliance, and accountable public financial management in accordance with
global best practices,” he said.
“Accordingly, the outstanding Quarterly Budget
Implementation Reports are being finalized and will be released in phases over
the coming weeks.”
Yakubu said the budget office is upgrading its reporting
systems and improving coordination among agencies to ensure faster and more
detailed fiscal reporting that meets global standards
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