FG Explains Reasons for Delay in Publishing Quarterly Budget Reports

The Federal Government has explained the delay in releasing recent Quarterly Budget Implementation Reports, clarifying that Nigeria’s fiscal year is determined by legislative approval rather than a strict January–December calendar. Director-General of the Budget Office, Tanimu Yakubu, noted that the repeal and re-enactment of the 2025 Appropriation Act extended the budget’s implementation period to June 2026. He said this legislative extension required extra time to reconcile revenue, update debt figures, and align expenditures before finalising the reports. Yakubu pointed to international precedents, noting that the US fiscal year runs from October to September and India’s from April to March. He added that constitutional provisions mandate that spending can only occur through duly enacted appropriation laws, which may not conform to a fixed twelve-month cycle. He assured citizens that the outstanding reports would be published in phases over the coming weeks and highlighted ongoing efforts to strengthen digital reporting systems and improve transparency in public finance management.

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