The Federal Government has announced plans to publish the long-awaited 2024 Budget Performance Report by the end of September 2025, alongside outstanding reports for the first and second quarters of 2025, in an effort to restore compliance with statutory fiscal reporting requirements.

The Budget Office of the Federation (BOF) explained in a statement on Friday that the delay in releasing Budget Implementation Reports (BIRs) had persisted since the second quarter of 2024, attributing the setback to extensive verification missions, reconciliations with implementing agencies, and the transition to a new extended fiscal framework.

“The delay should not be seen as backsliding, but as a reflection of the care taken to ensure accuracy and credibility in Nigeria’s fiscal reporting during an exceptional budget cycle,” the statement read.

According to the Office, issuing reports based on the old budget cycle before the implementation of the extended fiscal framework could have produced conflicting datasets, potentially misleading stakeholders.

“Issuing reports on the old cycle, only to have them overtaken by a revised implementation framework, would have created confusion once policy discussions began pointing towards an extended horizon,” it noted.

To bridge the reporting gap, the BOF confirmed a provisional plan to release the full-year 2024 Budget Performance Report together with Q1 and Q2 2025 reports by the end of September. Beginning with the third quarter of 2025, the Office pledged to resume regular quarterly publications on schedule.

The Budget Office emphasised that the Fiscal Responsibility Act mandates the publication of quarterly BIRs and reaffirmed its statutory obligations. It described the reports not merely as accounting summaries, but as integrated expenditure data verified through on-the-ground assessments of projects across the country.

“The Federal Government remains resolutely committed to upholding Nigeria’s credibility with citizens, markets, and partners by publishing accurate data, restoring predictability in fiscal reporting, and anchoring the budget process firmly on the January–December cycle,” the statement said.

The Office also highlighted efforts to enhance monitoring systems, strengthen collaboration with Ministries, Departments, and Agencies, and expand digital integration of project and expenditure data, all aimed at ensuring timely and credible reporting in the future.

“The temporary delay should be seen not as backsliding, but as a reflection of the care taken to ensure accuracy, coherence, and credibility in Nigeria’s fiscal reporting during an exceptional budget cycle,” the BOF added, reaffirming the government’s commitment to transparency, accountability, and fiscal integrity.