By Beryl Odele
The Federal Government has defended the timeline for the publication of recent Quarterly Budget Implementation Reports, insisting that fiscal years are determined by legislative authorization and not strictly by the January to December calendar cycle.
In a statement issued by Tanimu Yakubu, the Budget Office of the Federation said the delay in the release of the reports followed the Repeal and Re-enactment of the 2025 Appropriation Act as well as the extension of the implementation period of the 2025 budget to June 2026.
The Budget Office explained that the fiscal year is a legal and legislative construct whose duration is determined by appropriation laws and related statutory instruments, stressing that where expenditure implementation is lawfully extended, the fiscal year correspondingly assumes that extended character.
According to the statement, Nigeria’s fiscal administration has at different times departed from the conventional January–December cycle through supplementary appropriations, rollover authorisations, continuing resolutions and Appropriation Repeal and Re-enactment Acts.
The office noted that Sections 80 and 81 of the 1999 Constitution do not prescribe a rigid twelve-month implementation cycle but rather require that withdrawals from the Consolidated Revenue Fund must be backed by lawful appropriation by the National Assembly.
It further cited fiscal practices in countries such as the United States and India, where fiscal years differ from the calendar year, describing fiscal timelines as policy and legislative tools designed to address economic realities and implementation challenges.
The statement also referenced judicial authorities, including Attorney-General of Bendel State v. Attorney-General of the Federation and Attorney-General v. De Keyser’s Royal Hotel Ltd, to support the argument that legislative authorization remains supreme in matters relating to public expenditure.
The Budget Office added that several countries, including Nigeria, extended budget implementation windows during periods of economic disruption such as the COVID-19 pandemic to sustain capital projects, preserve jobs and maintain fiscal stability.
It disclosed that following the reenactment and extension of the 2025 budget, the office commenced comprehensive reconciliations involving revenue performance reviews, expenditure alignment, financing updates and inter-agency coordination to ensure the accuracy and integrity of the implementation reports.
The office assured that the outstanding Quarterly Budget Implementation Reports would be released in phases in the coming weeks, while efforts are ongoing to strengthen digital reporting systems and institutional coordination for more timely fiscal reporting.
It reaffirmed the Federal Government’s commitment to transparency, fiscal discipline, constitutional compliance and accountable public financial management in line with international best practices.