FG Explains Delays in Nigeria's Budget Implementation Reports

The Federal Government of Nigeria, through the Budget Office of the Federation, clarified the reasons behind the delays in budget implementation reports. Tanimu Yakubu, the Director General of the Budget Office, stated that the fiscal year does not strictly align with the January to December calendar cycle.

The recent delays in public quarterly budget implementation reports follow the repeal and re-enactment of the 2025 Appropriations Act, which has extended the budget's implementation period to June 2026. Yakubu explained that Nigeria's fiscal administration operates outside the conventional 12-month calendar framework, allowing for legal extensions of budget implementation.

He cited examples of other countries, including the United States and India, where fiscal years differ from calendar years. The Budget Office is currently reconciling revenue performance and reviewing expenditures to ensure timely release of the outstanding quarterly budget implementation report, which is expected to be finalized soon.