From Victor Osula, Abuja
The Director-General of the Budget Office of the Federation, Tanimu Yakubu, has reassured Nigerians of the Federal Government’s commitment to transparency, fiscal discipline, and accountable public financial management, while clarifying the reasons behind the delay in the publication of recent Quarterly Budget Implementation Reports.
In a statement issued on Sunday, Yakubu explained that the publication timeline was affected by constitutional, legislative, and fiscal adjustments surrounding the 2025 Appropriation framework, particularly the repeal and re-enactment of the 2025 Appropriation Act and the subsequent extension of the budget implementation period to June 2026.
According to him, the delay should be understood within the broader legal and fiscal framework guiding public finance administration in Nigeria, noting that a fiscal year is not necessarily tied to the January-to-December calendar cycle.
He explained that while the calendar year remains a fixed chronological structure, the fiscal year is a legislative and juridical creation whose duration and validity are determined by laws enacted through the appropriation process.
Yakubu stated that the Federal Government’s fiscal operations have, at different periods, gone beyond the conventional twelve-month cycle through supplementary appropriations, continuing resolutions, rollover authorisations, statutory extensions, and appropriation repeal and re-enactment processes.
“The recent adjustment in the publication schedule arose principally from the repeal and re-enactment process of the 2025 Appropriation Act concluded in December 2025, together with the subsequent extension of the implementation period of the 2025 Budget to June 2026”, the statement said.
He noted that these fiscal adjustments effectively prolonged the operational lifespan of the 2025 Budget beyond the traditional twelve-month framework commonly associated with a fiscal year.
The Budget Office DG stressed that under Nigerian constitutional practice, legislative authorisation remains the foundation of public expenditure management.
Citing Sections 80 and 81 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Yakubu explained that withdrawals from the Consolidated Revenue Fund are valid once duly authorised by an Appropriation Act or other legislation enacted by the National Assembly.
He further argued that where expenditure authority is lawfully extended or preserved by the National Assembly, such authority remains constitutionally valid until the expiration period specified by law.
Yakubu also referenced comparative international practices, pointing out that fiscal years differ across jurisdictions depending on legislative and policy choices.
He cited the United States, where the federal fiscal year runs from October 1 to September 30, and India, where the fiscal cycle historically spans April 1 to March 31.
According to him, these examples demonstrate that fiscal years are policy-driven and legislatively determined frameworks designed to address macroeconomic realities, budget implementation needs, and public finance management objectives.
The statement also referenced judicial precedents within Commonwealth public finance jurisprudence, including the Supreme Court decision in Attorney-General of Bendel State v. Attorney-General of the Federation, which underscored the constitutional importance of legislative control over public revenues and expenditures.
Yakubu further cited Attorney-General v. De Keyser’s Royal Hotel Ltd as reinforcing the principle that executive spending powers remain subordinate to statutory authorisation where Parliament has legislated comprehensively.
He added that several countries adopted similar budget implementation extensions during periods of economic disruption, especially after the COVID-19 pandemic, to address procurement delays, revenue shocks, and ensure continuity of critical capital projects.
According to the Budget Office DG, Nigeria had equally extended implementation windows in the past to prevent project abandonment, preserve contractor liquidity, sustain employment, and maintain macro-fiscal stability.
Yakubu disclosed that following the repeal and re-enactment of the 2025 Appropriation Act, the Budget Office initiated comprehensive fiscal reconciliations involving revenue performance reviews, expenditure alignments, debt and financing updates, cash management adjustments, and enhanced inter-agency coordination.
He said the measures were necessary to guarantee the accuracy, completeness, integrity, and audit consistency of the Quarterly Budget Implementation Reports before publication.
The statement assured Nigerians that the outstanding reports were currently being finalised and would be released in phases over the coming weeks.
Yakubu also revealed that the Budget Office was strengthening its digital reporting architecture, data harmonisation systems, and institutional coordination mechanisms to improve the quality, timeliness, and analytical depth of fiscal reporting in line with international public finance standards.
“The Federal Government remains firmly committed to the principles of open budgeting, fiscal discipline, transparency, constitutional compliance, and accountable public financial management in accordance with global best practices”, the statement added.
