Director-General, Budget Office of the Federation (BoF), Tanimu Yakubu, yesterday hinted that the implementation of the 2025 budget will commence by the end of September.
The assurance came amid growing concerns that the N54.99 trillion budget, tagged, “Budget of Restoration,” was yet to be implemented, about nine months after it was passed into law.
Speaking at the third Quarter Ministerial Stakeholders and Citizens Engagement Forum, hosted by Ministry of Budget and National Planning, in Abuja, Yakubu said effective implementation and prudent fiscal management will be critical to the budget’s success.
He stressed that citizen involvement remained critical in the exercise, adding that Nigerians are the ultimate owners of public resources.
He said setting realistic revenue targets, particularly in the oil sector, was a key challenge in the country’s public finance system.
Yakubu pointed out that initiatives, including translating budget documents into local languages, simplifying budget content, and empowering communities to hold the government accountable, remained essential.
Addressing fiscal implications of the Petroleum Industry Act (PIA), he stressed that improving revenue recognition in project financing and tax credit schemes, and prioritising debt servicing, which accounts for N14.3 trillion of the 2025 budget, were key.
