The Nigerian government has failed to publish quarterly budget implementation reports for almost a year, raising serious concerns about transparency and accountability, according to BudgIT, a civic-tech organisation.
In a statement released on Thursday, BudgIT pointed out that these reports are legally required by the Fiscal Responsibility Act of 2007. The law mandates that the Minister of Finance release the reports no later than 30 days after each quarter ends. However, the current administration, led by President Bola Tinubu, has not published a single report since taking office, leaving the public in the dark about how government funds are being spent.
This lack of transparency is a break from the previous administration, which published at least three budget implementation reports each fiscal year. Vahyala Kwaga, BudgIT’s Head of Research and Policy Advisory, called the government’s unwillingness to publish the reports “discouraging.”
BudgIT warns that this failure to provide financial information could have significant consequences, particularly as Nigeria seeks to attract foreign investment. The organisation noted that the reports are crucial for the private sector to plan their operations and for civil society and international partners to analyze the country’s fiscal health.
