The Director-General of the Budget Office of the Federation, Tanimu Yakubu, has clarified that fiscal years are determined by legislative authorization rather than the conventional January-to-December calendar cycle, explained that this accounts for the delayed publication of recent Quarterly Budget Implementation Reports.
In a statement issued on Thursday, Yakubu said the Budget Office acknowledged public concerns over the delay but stressed that Nigeria’s fiscal administration operates within constitutional and legal frameworks that may extend budget implementation beyond a standard calendar year.
According to him, the recent delay followed the Repeal and Re-enactment of the 2025 Appropriation Act concluded in December 2025, alongside the extension of the implementation period of the 2025 Budget to June 2026.
He explained that such adjustments effectively prolonged the operational lifespan of the 2025 budget, making the fiscal year “a legislatively sustained expenditure window” rather than a purely chronological concept.
Yakubu noted that several countries, including the United States and India, operate fiscal years that differ from the calendar year, emphasizing that fiscal timelines are policy and legislative constructs designed to support macroeconomic management and public finance administration.
The Budget Office DG further cited Sections 80 and 81 of the 1999 Constitution, stating that the law does not impose a rigid 12-month fiscal implementation cycle but instead requires public expenditure to be backed by valid legislative authorization.
He added that Nigeria had, in previous years, extended capital budget implementation windows to address procurement delays, revenue shocks, project continuity, and economic disruptions, including those linked to the COVID-19 pandemic.
Yakubu also referenced judicial precedents, including the Supreme Court case of Attorney-General of Bendel State v. Attorney-General of the Federation, to reinforce the principle that legislative approval remains central to public expenditure management.
He disclosed that following the repeal and re-enactment process, the Budget Office commenced extensive reconciliations covering revenue performance, cash management, expenditure alignment, debt updates, and inter-agency fiscal coordination to ensure the accuracy and integrity of the reports.
According to the statement, the outstanding Quarterly Budget Implementation Reports are currently being finalized and will be released in phases over the coming weeks.
Yakubu assured that the Federal Government remained committed to transparency, fiscal discipline, constitutional compliance, and accountable public financial management, adding that efforts were ongoing to strengthen digital reporting systems and institutional coordination in line with international best practices.
