FG Budget Office Explains Delay in Quarterly Reports, Cites Legal Extensions of Fiscal Year
The Budget Office of the Federation has clarified that the delay in the release of the Federal Government’s Quarterly Budget Implementation Reports stems from legally sanctioned adjustments to Nigeria’s fiscal year, rather than administrative inefficiency.
In a statement on Sunday, Tanimu Yakubu, Director-General of the Budget Office, explained that the fiscal year in Nigeria is determined by law, not the calendar. The recent extension of the 2025 Budget implementation to June 2026, following the Repeal and Re-enactment of the 2025 Appropriation Act, necessitated a corresponding adjustment in the publication timeline of the reports.
Yakubu emphasized that fiscal years are “legislatively sustained expenditure windows” and not strictly tied to the January–December calendar, noting that such practices are common in other countries. For instance, the U.S. federal fiscal year runs from October to September, while India operates from April to March.
The Budget Office assured that the outstanding Quarterly Budget Implementation Reports are being finalized and will be released in phases over the coming weeks. It added that efforts are underway to strengthen digital reporting systems, data harmonization, and inter-agency coordination to ensure more timely and accurate fiscal reporting.
“The Federal Government remains committed to open budgeting, fiscal discipline, transparency, and accountable public financial management in line with international best practices,” Yakubu stated.
