For the first time in 15 years, Nigeria’s Budget Office, under President Bola Tinubu, has failed to publish quarterly budget implementation reports for three consecutive quarters, breaching the Fiscal Responsibility Act 2007. The reports for Q3 2024, Q4 2024, and Q1 2025 were not published as of mid-2025, creating a significant gap in transparency regarding government expenditure.
Longest Silence in 15 Years: Since 2009, quarterly budget performance reports have been published.
The failure to release reports within 30 days of each quarter’s end violates Section 30 of the Fiscal Responsibility Act of 2007, which requires the Budget Office to track and publish government earnings and spending.
The absence of these reports hampers the ability of citizens, investors, and legislators to track budget performance, capital investments, or identify potential diversion of funds.
The last detailed budget implementation report was for Q2 2024. While the Minister of Finance or the Budget Office Director General may have given verbal updates, these do not substitute for the comprehensive data in the mandated reports.
Economic Impact: The lack of data hinders the private sector from tracking project implementation and impacts investor confidence in Nigeria’s public financial management.
The non-publication raises concerns regarding the government’s commitment to transparency, particularly as it seeks to attract foreign capital and manage significant, ongoing 2024 and 2025 budgets.
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