The Federal Government has announced that the 2024 full-year Budget Performance Report will be released by the end of September 2025, alongside consolidated reports for the first and second quarters of 2025.
In a statement issued Friday in Abuja, the Budget Office of the Federation (BoF) said the delay in publishing the statutory Budget Implementation Reports (BIRs) was caused by two main factors: a nationwide verification and reconciliation exercise and the transition to an extended fiscal framework.
According to the BoF, the verification process took longer than expected due to the scope of projects across the country. Unlike mere accounting summaries, the reports combine expenditure data with on-the-ground physical verification, necessitating extensive field missions and reconciliations with implementing agencies.
The office further explained that issuing reports under the old budget cycle while policy discussions were already aligned to a longer-term fiscal framework would have created inconsistencies. Adjusting the timelines, it said, was necessary to maintain accuracy and credibility in fiscal disclosures.
To close the reporting gap, a provisional 2024 Budget Performance Report based on verified funding commitments will be published in September 2025.
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From the third quarter of 2025, quarterly publications will resume as scheduled in line with the Fiscal Responsibility Act (FRA).
The BoF added that it is taking steps to improve monitoring systems, enhance collaboration with ministries, departments, and agencies (MDAs), and expand digital integration of project and expenditure data. These measures, it said, will ensure timely, transparent, and reliable budget reporting going forward.
Reassuring citizens, development partners, and markets, the federal government pledged its commitment to strengthening fiscal accountability while preserving the integrity of the January–December budget cycle.