By Peter Omopo
29th August 2025
The Federal Government has announced plans to release the long-awaited 2024 Budget Performance Report by the end of September 2025, alongside outstanding reports for the first and second quarters of 2025.
The Budget Office of the Federation disclosed this in a statement on Friday, explaining that the move was aimed at restoring compliance with Nigeria’s fiscal reporting requirements.
The Office admitted that publication of Budget Implementation Reports had stalled since the second quarter of 2024. It attributed the delay to verification exercises with implementing agencies and the country’s transition to a new extended fiscal framework.
“The delay should not be seen as backsliding, but as a reflection of the care taken to ensure accuracy and credibility in Nigeria’s fiscal reporting during an exceptional budget cycle,” the statement read.
It added that publishing under the old budget cycle would have created conflicting datasets once the new implementation framework took effect.
To close the gap, the Office said it would release the 2024 full-year report together with the Q1 and Q2 2025 reports by September’s end, after which quarterly publications would resume as scheduled.
The Budget Office reaffirmed that the Fiscal Responsibility Act mandates the publication of quarterly reports, stressing that future releases would strike a balance between diligence and timeliness. It also noted that the reports were not mere accounting records but included physical verification of government projects across the country.
To strengthen monitoring, the Office revealed it was upgrading its reporting systems and expanding digital integration with ministries, departments and agencies. It further pledged to deepen collaboration across government institutions to ensure fiscal reports are timely, credible, and of “the highest integrity.”
Reaffirming Nigeria’s broader fiscal transparency goals, the statement added: “Our commitment to transparency, timeliness, and accountability remains unwavering. Credible data is essential to sustain Nigeria’s credibility with citizens, markets, and international partners.”
The Office assured stakeholders that fiscal reporting would soon return to a predictable January–December cycle, in line with ongoing government budget reforms.