The Budget Office of the Federation has urged ministries, departments and agencies (MDAs) to align their budget proposals with national priorities, while stressing the need for fiscal responsibility, efficient budget planning, and strategic resource allocation in addressing Nigeria’s economic and security challenges.
The Director-General of the Budget Office of the Federation, Tanimu Yakubu, stated this yesterday during the commencement of the 2025 budget preparation training for MDAs using the Government Integrated Financial Management Information System Budget Preparation Subsystem (GIFMIS/BPS) for the Southwest zone, held yesterday in Lagos.
Yakubu, represented by the Director of Economic Expenditure, Funmi Lasekan, outlined the fiscal pressures facing President Bola Tinubu’s administration, citing dwindling oil revenues, rising debt servicing costs, and global economic pressures.
“The quality of our national budget has long been a concern, with stakeholders questioning its relevance and execution. Our economy is under immense pressure and it has never been more critical for us to ensure that our budget is focused and efficient,” Yakubu said
He explained that the training is aimed at enhancing the capacity of MDAs to deliver budgets that reflect the government’s focus on security, economic growth and human capital development.
Yakubu highlighted that this initiative is a crucial step in reforming the budget process and ensuring that the 2025 budget meets the expectations of Nigerians.Yakubu urged MDAs to align their proposals with national priorities, emphasising the need for security, infrastructure development and poverty reduction.
The Director-General further stated that the training is expected to streamline the budget process, improve efficiency and promote accountability across the public sector, urging participants to take full advantage of the tools provided and collaborate with their colleagues to ensure the success of the 2025 budget.
Yakubu reaffirmed the Federal Government’s commitment to restoring the country’s economic stability and enhancing its human capital through effective budgetary reforms.
The Technical Adviser to the Director-General of the Budget Office, Alfred Okoh, while giving a comprehensive overview of the Federal Government’s revenue outlook for 2025, highlighted the key pillars for boosting government and household expenditures, as well as a cautious yet optimistic approach to the economy.
He said the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), which serves as the pre-budget statement for the government, will prioritise stability, sustainable growth, and inclusive development as well as drive the fiscal policies of the coming years.
According to Okoh, the Federal Government is embarking on an ambitious infrastructure development plan aimed at enhancing Nigeria’s economic hubs through key transport projects.
Okoh said despite several headwinds, the economy posted positive but lower-than-expected growth for the fourteenth consecutive quarter.On budget ceilings and fiscal discipline, Okoh emphasised that the 2025 budget preparation process will enforce strict adherence to budget ceilings set out in the Federal Government Budget Call Circular.
These ceilings, he explained, are designed to reflect the government’s commitment to President Bola Tinubu’s Renewed Hope Agenda and the National Development Plan 2021-2025.
