Why we’re delaying release of Quarterly Budget Implementation Reports – FG

The Federal Government has defended the delay in the publication of recent Quarterly Budget Implementation Reports, insisting that fiscal years are determined by legislative authorisation and not strictly by the January-to-December calendar cycle.

Director-General of the Budget Office of the Federation, Tanimu Yakubu, made the clarification in a statement issued on Sunday amid growing public concerns over the timeline for releasing the reports.

Yakubu explained that while the calendar year remained a fixed twelve-month chronological framework, a fiscal year was a legal and legislative construct whose duration and validity depended on the provisions of appropriation laws passed by the National Assembly.

According to him, where an Appropriation Act or related legislation extends expenditure implementation beyond a conventional twelve-month period, the fiscal year automatically assumes that legally extended character.

He stated that Nigeria’s fiscal administration had, at different periods, operated outside the traditional January-to-December cycle through statutory extensions, supplementary appropriations, continuing resolutions and Appropriation Repeal and Re-enactment Acts.

Yakubu noted that the recent delay in publishing the Quarterly Budget Implementation Reports was largely linked to the repeal and re-enactment of the 2025 Appropriation Act completed in December 2025, alongside the extension of the implementation period of the 2025 budget to June 2026.

“These fiscal adjustments effectively extended the operational lifespan of the 2025 Budget beyond the conventional twelve-calendar-month framework ordinarily associated with a fiscal year,” he stated.

The Budget Office boss argued that fiscal years were policy and legislative tools designed to accommodate economic realities, budget implementation needs and public finance administration rather than rigid calendar calculations.

To support his position, Yakubu cited international examples, noting that the United States federal fiscal year runs from October to September, while India’s fiscal year spans April to March.

He also referenced Sections 80 and 81 of the Nigerian Constitution, which he said authorised withdrawals from the Consolidated Revenue Fund only through duly enacted appropriation laws and did not impose a fixed twelve-month implementation cycle.

Yakubu further stated that several countries, including Nigeria, extended budget implementation windows during periods of economic disruptions such as the COVID-19 pandemic to sustain ongoing projects, maintain contractor liquidity and stabilise the economy.

According to him, following the repeal and re-enactment of the 2025 Appropriation Act, the Budget Office commenced extensive reconciliations involving revenue reviews, expenditure alignment, debt updates and inter-agency fiscal coordination to ensure the accuracy and integrity of the reports before publication.

He assured Nigerians that the outstanding Quarterly Budget Implementation Reports were being finalised and would be released in phases over the coming weeks.

Yakubu added that the Budget Office was also strengthening its digital reporting systems and institutional coordination processes to improve transparency, timeliness and compliance with international public finance reporting standards.

The Federal Government reaffirmed its commitment to fiscal discipline, open budgeting, transparency and accountable public financial management in line with global best practices.