After months of public anxiety over delays, the Director-General of the Budget Office of the Federation (BoF), Mr. Tanimu Yakubu, has announced that the implementation of Nigeria’s ₦54.99 trillion 2025 budget will commence by the end of September.
Yakubu gave the assurance in Abuja at the Third Quarter Ministerial Stakeholders and Citizens Engagement Forum, organised by the Ministry of Budget and National Planning. He noted that effective implementation and prudent fiscal management would be critical to the success of the budget, which has been tagged the “Budget of Restoration.”
“Citizens are the ultimate owners of public resources. Their involvement is central to accountability and transparency,” Yakubu said, stressing that government would step up citizen participation by translating budget documents into local languages, simplifying budget content, and empowering communities to hold officials accountable.
He further acknowledged challenges in setting realistic revenue targets, particularly in the oil sector, and highlighted the fiscal implications of the Petroleum Industry Act (PIA). According to him, strengthening revenue recognition in project financing, refining tax credit schemes, and prioritising debt servicing—already projected at ₦14.3 trillion, remain top concerns in the 2025 fiscal plan.
Economists Express Cautious Optimism
Yakubu’s announcement was welcomed by economists, though with a dose of caution.
Dr. Muktar Bello, an economist at the University of Abuja, described the September rollout as “welcome but overdue,” noting that the delay has already diminished the budget’s impact.
“Nine months is too long for a fiscal plan to remain idle. Inflationary pressures and currency volatility have shifted the economic realities since January, meaning some of the assumptions underlying the budget may no longer hold,” Bello explained.
Lagos-based financial analyst, Ms. Grace Odiaka, echoed the sentiment, warning that oil revenue projections should not be overstated.
“The credibility of this budget lies not in the paper figures but in the discipline to spend where it matters most, health, education, infrastructure, while cutting waste,” she said.
Civil Society Pushes for Oversight
Civil society groups also weighed in, emphasising that transparency must go beyond government promises.
Mr. James Alabi, Executive Director of the Centre for Social Accountability (CSA), welcomed the idea of translating budget documents into local languages but argued that true accountability requires institutionalised citizen monitoring.
“Communities need more than access to documents—they need tools to track projects in real time. Without genuine oversight, the budget risks being swallowed by the usual cycle of leakages,” he stated.
Similarly, Ms. Maryam Sule, spokesperson for the Budget Transparency Coalition (BTC), urged the federal government to establish an open portal for tracking allocations and expenditures across all levels.
“Debt servicing consuming ₦14.3 trillion is alarming. Citizens deserve to know how loans are being utilised, not just how they are being repaid,” Sule noted.
A Test of Fiscal Discipline
Analysts and civic actors agree that the September commencement date offers a chance for government to restore public confidence in its fiscal management. But they stress that the ultimate test will lie in execution, timeliness, transparency, and accountability.
As Yakubu summed it up: “The budget must work for Nigerians, and that begins with timely implementation and inclusive monitoring.”
For many Nigerians, September will mark not just the start of budget implementation but a test of whether the “Budget of Restoration” can deliver on its promise to stabilise the economy and rebuild public trust.
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