Federal government has disclosed that the full-year 2024 Budget Performance Report will be published by the end of September.
This would be done alongside consolidated reports for the first and second quarters of 2025.
Going forward, quarterly publications, the federal government said, are expected to resume on schedule.
The Budget Office of the Federation, BoF, in a statement issued yesterday in Abuja, explained that the delay in releasing the Budget Implementation Reports, BIRs, was linked to two key factors: verification and reconciliation processes, and the transition to an extended fiscal framework.
According to BoF, the verification and reconciliation exercise took longer than anticipated because of the scope and nationwide spread of appropriated projects.
It noted that the reports are not simple accounting summaries, but combined expenditure data with physical verification of projects across the country, which necessitated extensive field missions and reconciliation with implementing agencies.
The second factor, the statement noted, was the transition to an extended fiscal framework.
The Budget Office explained that issuing reports under the old budget cycle, while policy discussions are already pointing toward a lengthened horizon, would have created inconsistencies and misled stakeholders.
Adjusting the reporting timelines, it added, was necessary to preserve coherence and accuracy in fiscal disclosure.
To bridge the reporting gap, the Budget Office said a provisional Budget Performance Report for 2024 will be published by September.
The interim report, based on verified funding commitments, will provide a reliable overview of fiscal performance, while detailed project-level verification continues throughout the year.
It added that from the third quarter of 2025, all budget reports will be published on schedule in line with the Fiscal Responsibility Act, FRA. For the first half of 2025, which is already overdue, consolidated reports will be released together with the full-year 2024 update to restore compliance with statutory requirements.
The BoF also disclosed that steps are being taken to enhance its monitoring system, strengthen collaboration with Ministries, Departments and Agencies, MDAs, and expand digital integration of expenditure and project data. These measures, it said, are aimed at ensuring that future reports are timely, credible and reliable.
The federal government, through the Budget Office, assured of its commitment to publish accurate fiscal data, maintaining timeliness and predictability in budget reporting and reinforcing the January–December budget cycle.
It also assured citizens, markets and development partners that it will continue to improve fiscal monitoring, transparency and accountability.
