By Ayo Ayodele
The Budget Office of the Federation has clarified that delays in the publication of recent Quarterly Budget Implementation Reports are linked to legal and procedural adjustments arising from the extension of the 2025 federal budget cycle, stressing that fiscal years are defined by law rather than the calendar year.
In a statement issued on Sunday by the Director-General, Tanimu Yakubu, the office explained that the fiscal year is a legal and legislative construct whose duration is determined by appropriation laws passed by the National Assembly, rather than the fixed January–December calendar cycle.
The statement noted that Nigeria’s fiscal administration has, at different times, operated beyond a strict annual calendar due to supplementary appropriations, rollover provisions, continuing resolutions, and repeal-and-reenactment processes. It said the recent adjustment in reporting timelines followed the repeal and reenactment of the 2025 Appropriation Act concluded in December 2025, alongside the extension of the budget’s implementation period to June 2026.
According to the office, these developments effectively extended the operational lifespan of the 2025 budget, making it necessary to align fiscal reporting processes with the revised legal framework.
The Budget Office, a key institution in Nigeria’s public finance management system, explained that under Sections 80 and 81 of the 1999 Constitution (as amended), expenditure from the Consolidated Revenue Fund must be backed by legislative approval, meaning that budget validity depends on the National Assembly’s authorization rather than the passage of time alone.
Citing comparative examples, the statement noted that countries such as the United States and India operate fiscal years that differ from the calendar year, reinforcing the principle that fiscal cycles are policy tools shaped by legislation and administrative needs.
The office further referenced judicial interpretations, including principles established in cases such as Attorney-General v. De Keyser’s Royal Hotel Ltd, to underscore that executive spending authority is subordinate to statutory provisions.
It added that following the recent fiscal adjustments, the Budget Office is currently undertaking reconciliations covering revenue performance, expenditure alignment, debt updates, and inter-agency coordination to ensure accuracy and consistency in the reports.
The delayed quarterly reports, it said, are being finalized and will be released in phases in the coming weeks. It also disclosed ongoing reforms aimed at strengthening digital reporting systems and improving transparency and timeliness in fiscal reporting.
Reaffirming its position, the Budget Office stressed the Federal Government’s commitment to open budgeting, fiscal discipline, and compliance with global standards in public financial management.