FG: Fiscal Year Determined by Law, Not January–December Calendar

*Tanimu Yakubu: extended 2025 budget lifespan responsible for reporting delay

James Emejo in Abuja

Director-General, Budget Office of the Federation (BoF), Dr. Tanimu Yakubu, yesterday defended the delayed publication of quarterly budget implementation reports, insisting that the countey’s fiscal year is determined by law and not by the conventional January-to-December calendar cycle.

In a statement, he said recent criticisms over the reporting timeline failed to take into account the legal and constitutional framework governing public finance administration in the country.

Yakubu explained that the operational life of a fiscal year could legally extend beyond 12 calendar months where such authority was backed by an Appropriation Act or other legislative instruments approved by the National Assembly.