Again, Yakubu’s budget office misses reporting deadlines, breaches fiscal transparency law

…experts warn delayed reports fuel corruption, erode public trust

The Budget Office of the Federation has again failed to publish budget implementation reports for three consecutive quarters, extending a pattern of delays that critics say violates the Fiscal Responsibility Act (FRA) and weakens oversight of government spending under President Bola Tinubu’s administration. This lapse comes despite earlier assurances by the Budget Office that it would resume timely publication of the reports after admitting last year that it had breached statutory disclosure requirements.

​Checks by BusinessDay show that the second quarter of 2024 remains the latest budget implementation report published on the Budget Office website. This leaves a significant gap in public access to information on federal revenue performance, expenditure, and project execution at a time of rising borrowing costs and fiscal pressure.

​Budget Office cites verification processes for prolonged silence

​Tanimu Yakubu, Director-General of the Budget Office, who was appointed by President Tinubu in June 2024 to replace Ben Akabueze, attributed the delay to what was described as an ongoing review and verification process. The administration’s official stance remains that the documents are being finalised for public consumption.

​“The other quarters will soon be uploaded, just give us time, they are still working on the document since you are able to access the website and got the other ones, that means in the shortest time you will get the other ones too. But they are still working on it,” Afolabi Olajuwon, Budget Office Spokesperson, told BusinessDay. He added that no specific timeline exists as the process involves contractors and multiple internal reviewers to ensure a thorough “fact-check” before release.

​The Fiscal Responsibility Act, enacted in 2007, requires the federal government to publish quarterly budget implementation reports to strengthen transparency and accountability in public finance management. Analysts say the continued absence of the reports represents a direct violation of the law and raises concerns over the government’s commitment to fiscal openness. The delays mark a reversal from commitments made last year when the agency blamed an “exceptional budget cycle” and promised a return to regular schedules.

​“This is a clear violation of the Fiscal Responsibility Act, 2007; specifically Section 50,” Vahyala Kwaga, BudgIT deputy director, told BusinessDay. “This means the federal government has broken its own laws on publication and transparency, completely closing the door for accountability. Because how can you hold the government accountable when you don’t know its financial position?”

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​Massive borrowing fuels concerns over unmonitored spending

​Kwaga noted that the Tinubu administration had effectively rolled back gains in fiscal disclosure achieved under former President Muhammadu Buhari.

“What is more troubling is the fact that this administration has effectively rolled back the growth and stability in the publication of fiscal documents that the previous administration of late President Buhari strove to commit to,” he said.

​With the administration engaging in massive borrowing, the lack of revenue and spending data creates a significant oversight vacuum.

“The question then becomes: if the government is not publishing on its spending and revenue but borrowing more, how do we know what it is using the money for?” Kwaga asked, challenging the President to match his macroeconomic reforms with equal dedication to transparency.

​Nigeria’s fiscal challenges have intensified as the government grapples with weak revenue growth, elevated debt service obligations, and the impact of subsidy reforms. Auwal Rafsanjani, Civil Society Legislative Advocacy Centre Executive Director, warned that financial secrecy allows for corruption and manipulation.

“The budgeting process in this country and its implementation has a major challenge, in the sense that the usual openness that we used to see is no longer there,” he said.

​Rafsanjani added that the lack of data undermines Nigeria’s commitments under the Open Government Partnership (OGP) initiative. Similarly, Kabir Isah, an Abuja-based economist, emphasised that missing reports eliminate the ability to monitor funds intended for vital sectors like education and healthcare. This perceived lack of transparency discourages civic participation and risks alienating investors who rely on data to assess the country’s economic stability.