Federal Government to Release 2024 Budget Report and Q1–Q2 2025 Updates by September

The Federal Government has announced that the full-year 2024 Budget Performance Report will be released by the end of September 2025, alongside consolidated reports for the first and second quarters of 2025. Authorities also confirmed that, going forward, quarterly publications will resume their regular schedule.

In a statement issued Friday in Abuja, the Budget Office of the Federation (BoF) attributed the delay in publishing the Budget Implementation Reports (BIRs) to two main factors: an extended verification and reconciliation exercise, and the transition to a longer fiscal framework.

The agency explained that verification and reconciliation took far longer than expected due to the nationwide scope of appropriated projects. Unlike ordinary accounting summaries, the reports integrate both expenditure data and physical verification of projects across the country, requiring extensive field missions and reconciliations with implementing agencies.

The Budget Office further noted that the shift toward an extended fiscal framework also impacted the reporting cycle. Publishing under the old budget structure, while policy discussions were already steering toward a longer horizon, would have created inconsistencies and risked misleading stakeholders. Adjusting the timelines, it stressed, was necessary to preserve accuracy and coherence in fiscal disclosures.

To fill the reporting gap, the BoF confirmed that a provisional 2024 Budget Performance Report will be published by September 2025. This interim update, based on verified funding commitments, will provide a dependable snapshot of fiscal performance while detailed project-level verification continues.

From the third quarter of 2025, the office pledged that all budget reports will be released promptly in line with the Fiscal Responsibility Act (FRA). For the already overdue first half of 2025, consolidated reports will be published together with the 2024 full-year update, ensuring a return to compliance with statutory requirements.

The statement added that steps are underway to strengthen monitoring systems, improve collaboration with Ministries, Departments, and Agencies (MDAs), and expand the digital integration of expenditure and project data. These reforms are designed to make future reports timelier, more credible, and more reliable.

Reaffirming its commitment, the Federal Government assured citizens, markets, and development partners that it remains dedicated to publishing accurate fiscal data, restoring predictability in budget reporting, and upholding the January–December budget cycle. It further emphasized ongoing efforts to deepen transparency, accountability, and fiscal monitoring across all levels of government.