The Federal Government has addressed growing public concerns over the delayed publication of Quarterly Budget Implementation Reports, attributing the timeline adjustments to the legal definition of Nigeria’s fiscal year rather than the standard January-to-December calendar cycle.In a detailed statement issued on Sunday, Tanimu Yakubu, Director-General of the Budget Office of the Federation, explained that the fiscal year is a legislative construct whose duration, start, and end dates are fixed by the Appropriation Act and related laws passed by the National Assembly. He stressed that while the calendar year is a fixed chronological period, the fiscal year derives its operative life entirely from statutory authorisation.
Yakubu noted that recent developments have necessitated this clarification. Following the repeal and re-enactment of the 2025 Appropriation Act late last year, the Federal Government extended the implementation period of the 2025 budget to June 2026. This adjustment effectively prolonged the operational lifespan of the 2025 fiscal framework beyond the conventional twelve-month cycle, requiring corresponding realignment of reporting schedules to ensure accuracy, completeness, and compliance with the prevailing legal framework.
The Budget Office chief cited comparative international practice to buttress the point. In the United States, the federal fiscal year runs from October 1 to September 30, while India’s fiscal year spans April 1 to March 31. Nigeria, he said, has similarly exercised legislative flexibility in the past to accommodate macroeconomic realities, procurement delays, revenue shortfalls, and the need for project continuity. Such extensions, he added, do not constitute constitutional anomalies but reaffirm the supremacy of legislative authorisation over public expenditure as enshrined in Sections 80 and 81 of the 1999 Constitution (as amended).
The statement emphasised that the Budget Office is currently undertaking comprehensive reconciliations involving revenue performance reviews, cash management adjustments, debt and financing updates, and inter-agency coordination. Outstanding Quarterly Budget Implementation Reports are being finalised and will be released in phases over the coming weeks.
Yakubu assured Nigerians that the Federal Government remains committed to the principles of open budgeting, fiscal transparency, and accountability. He said the administration is strengthening its digital reporting architecture and institutional coordination mechanisms to align with global best practices while upholding constitutional and statutory requirements.The clarification comes amid heightened public scrutiny of public finance management as the country navigates ongoing economic reforms and the implementation of the 2026 budget signed into law earlier this year.
