A civic accountability group, the Network for Fiscal Transparency and Development (NFTD), has commended the Director-General of the Budget Office of the Federation, Tanimu Yakubu, for ushering in what it described as “a new era of transparency, discipline, and measurable performance” in Nigeria’s public finance management.
In a statement issued on Sunday by its National Coordinator, Comrade Joshua Oyenuga, NFTD said the 2024 Budget Implementation Report released by the Budget Office reflects a credible transformation in the nation’s fiscal management framework.
The group noted that the report, which showed that Ministries, Departments, and Agencies (MDAs) utilised over 81 per cent of capital releases, demonstrates improved efficiency and a renewed culture of openness in the use of public funds.
“Under Mr. Tanimu Yakubu, the Budget Office has redefined fiscal governance. What we are seeing is not just higher utilisation rates but a clear alignment between budget releases, project execution, and results that citizens can verify,” the statement read.
NFTD observed that the 2024 fiscal year was among the most transparent in recent times, with quarterly budget implementation reports published promptly and made accessible to the public a move that has strengthened citizens’ trust and reinforced the credibility of the budget process.
The group also highlighted significant growth in non-oil revenues including corporate income tax, VAT, customs duties, and digital transfer levies attributed the gains to the administration’s diversification agenda and the Budget Office’s focus on performance-based budgeting.
It further applauded Yakubu’s insistence on monitoring, compliance, and feedback mechanisms, which it said have improved the quality of capital spending across key sectors such as infrastructure, education, and healthcare.
NFTD urged the Federal Government to deepen these reforms by institutionalising transparency frameworks and partnering with civil society for independent monitoring of capital projects.
“The 2024 report tells a larger story that Nigeria’s budgeting system can work when guided by integrity, data, and transparency. It is a model that should be strengthened, not abandoned,” the group added.
