Director-General, Budget Office of the Federation (BoF), Dr. Tanimu Yakubu, yesterday defended the delayed publication of quarterly budget implementation reports, insisting that the countey’s fiscal year is determined by law and not by the conventional January-to-December calendar cycle.
In a statement, he said recent criticisms over the reporting timeline failed to take into account the legal and constitutional framework governing public finance administration in the country.
Yakubu explained that the operational life of a fiscal year could legally extend beyond 12 calendar months where such authority was backed by an Appropriation Act or other legislative instruments approved by the National Assembly.
He attributed the delay in releasing the latest Quarterly Budget Implementation Reports largely to the repeal and re-enactment of the 2025 Appropriation Act concluded in December 2025, as well as the extension of the implementation period of the 2025 budget to June 2026.
According to him, “The fiscal year is not necessarily synonymous with the calendar year,” stressing that while the calendar year remained a fixed 12-month construct running from January to December, the fiscal year was “a juridical and legislative creation.”
He said, “Where the prevailing Appropriation Act or related legislative instrument authorises expenditure, implementation, or validity beyond the ordinary 12-month cycle, the operative fiscal year correspondingly assumes that legally extended character.”
The DG Budget noted that Nigeria’s fiscal administration had over the years operated outside a strict January–December framework through statutory extensions, supplementary appropriations, continuing resolutions, rollover authorisations and Appropriation (Repeal and Re-enactment) Acts.
He stated that “In substance and in law, therefore, the fiscal year becomes not merely a chronological concept, but a legislatively sustained expenditure window.”
Yakubu said the practice was neither unusual nor unconstitutional, citing examples from other jurisdictions including the United States and India where fiscal years differ from the calendar year.
He said, “In the United States, for example, the federal fiscal year runs from October 1 to September 30 pursuant to statutory prescription rather than the calendar year, while in India the fiscal year historically runs from April 1 to March 31.”
He argued that Sections 80 and 81 of the 1999 Constitution did not impose a rigid 12-month implementation cycle for public expenditure, but instead required that withdrawals from the Consolidated Revenue Fund be backed by valid legislative approval.
According to him, “Where the National Assembly lawfully extends, reenacts, or preserves expenditure authority beyond a single calendar year, such authority remains legally valid and enforceable until its expiration under law.”
The statement also referenced judicial precedents within Commonwealth public finance jurisprudence, including the Nigerian Supreme Court decision in Attorney-General of Bendel State v. Attorney-General of the Federation, which underscored legislative supremacy over public expenditure authorisation.
The budget office further pointed to fiscal disruptions experienced globally during and after the COVID-19 pandemic, noting that several countries extended budget implementation windows to address procurement delays, revenue shocks and project continuity challenges.
Yakubu said Nigeria had similarly extended implementation periods in the past to prevent abandonment of ongoing projects, protect contractor liquidity and preserve jobs.
He disclosed that following the 2025 budget adjustments, the budget office commenced extensive reconciliations covering revenue performance reviews, expenditure alignment, financing updates, cash management adjustments and inter-agency coordination to ensure the integrity and accuracy of the reports.
According to him, the outstanding Quarterly Budget Implementation Reports “are being finalised and will be released in phases over the coming weeks.”
He added that the office was also upgrading its digital reporting infrastructure and harmonisation systems to improve the timeliness and analytical quality of future fiscal reports.
He reaffirmed the federal government’s commitment to the principles of open budgeting, fiscal discipline, transparency, constitutional compliance, and accountable public financial management in accordance with global best practices.
James Emejo
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