Central Bank of Nigeria Warns Against Delayed Budgets Impact on Investor Confidence

Aloysius Uche Ordu, a member of the Monetary Policy Committee of the Central Bank of Nigeria, expressed concerns about the adverse effects of delayed fiscal reports, especially at the state government level, on transparency and investment in Nigeria. The committee, during its November 2025 meeting, voted to retain the benchmark interest rate at 27.0%.

Ordu highlighted the challenges posed by fiscal uncertainties and delays in budget implementation, which hinder economic planning and discourage investments. He emphasized the importance of transparency, removing structural bottlenecks, and sustaining investor confidence in the face of fiscal risks.

The delayed release of budget implementation reports by state governments and the lack of transparency at the subnational level were identified as critical issues affecting fiscal coordination and macroeconomic data accuracy. Despite some positive revenue developments at the federal level, challenges in revenue mobilization persist, underscoring the need for stronger efforts in this area.