PwC Report: Delayed Budget Releases in 2025 Impacted Nigeria's Investment Drive, Urges Fiscal Reforms

In 2025, Nigeria's investment momentum was hampered by delayed budget releases, affecting the country's long-term growth ambitions, according to a report by PwC. Kenneth Erikum, a partner at PwC, noted that the delayed capital fund releases disrupted project timelines and complicated economic plans, leading to a slow progress towards economic growth.

Erikum highlighted the importance of revenue mobilization and emphasized the need for fiscal reforms to address the recurring budget deficit and enhance capital expenditure execution. He also discussed Nigeria's debt position and the necessity of borrowing to complement revenue generation and improve agency efficiency.

President Bola Tinubu directed a move to end the practice of running multiple overlapping budgets, aiming to streamline budget processes and enhance accountability across government ministries and agencies.