The Budget Office of the Federation has assured Nigerians and stakeholders of its commitment to transparency, accountability, and timely disclosure in fiscal reporting, following concerns over the delayed release of Budget Implementation Reports (BIRs).
In a statement issued on Friday, the Office explained that the delay in publishing BIRs since the second quarter of 2024 was due to extensive verification and reconciliation processes and Nigeria’s transition to an extended fiscal framework. It said the adjustment was necessary to avoid conflicting datasets and ensure fiscal reports maintained accuracy and credibility.
The Fiscal Responsibility Act (FRA) requires the budget office to publish quarterly BIRs. The budget office urged stakeholders to see the temporary delay not as backsliding, “but as a reflection of the care taken to ensure accuracy, coherence, and credibility in Nigeria’s fiscal reporting during an exceptional budget cycle.”
According to the budget office, verification missions to track expenditure and projects nationwide and reconciliations with implementing agencies took longer than anticipated, given the scale and geographic spread of appropriated projects.
It added that issuing reports based on the old budget cycle would have created inconsistencies, as policy discussions were already pointing toward a lengthened budget horizon.
To address the concerns, the budget office announced that a full-year 2024 Budget Performance Report will be published by the end of September 2025.
The release will accompany consolidated reports for the first and second quarters of 2025, after which quarterly publications will resume on schedule beginning in the third quarter of 2025.
“The Budget Office is enhancing monitoring systems, deepening collaboration with Ministries, Departments and Agencies (MDAs), and expanding digital integration of expenditure and project data to ensure future reports are timely and of the highest integrity,” it added.
The office further reaffirmed the Federal Government’s resolve to uphold Nigeria’s credibility with citizens, markets, and development partners by publishing credible and accurate fiscal data, restoring predictability in budget implementation, and anchoring the process firmly on the January–December cycle.
