BusinessEconomyFinanceNews

BudgIT Slams Finance Ministry, Budget Office for Ignoring Fiscal Responsibility Act

A prominent civic-tech organisation, BudgIT, has raised serious concerns over the refusal of the Federal Ministry of Finance and the Budget Office to publish Quarterly Budget Implementation Reports (BIRs), describing the action as a violation of statute and established practice.

According to BudgIT, the Fiscal Responsibility Act of 2007 mandates the Minister of Finance to publish BIRs within 30 days after the end of each quarter.

However, despite nearly four BIRs pending from Q2 2024 to Q2 2025, the current administration has not published a single BIR in nearly one fiscal year.

The organisation noted that Budget Implementation Reports are crucial to assessing the quality of implementation of the budget and the delivery of public goods and services.

The refusal to publish these reports is seen as a lack of transparency and accountability in the management of public funds.

BudgIT’s Group Head of Research and Policy Advisory, Vahyala Kwaga, stated that the non-publishing of crucial information by the Ministry of Finance and the Budget Office of the Federation is discouraging and undermines the principles of transparency and accountability.

The organisation has called on the Ministry of Finance, the Budget Office, and the President to uphold the principles of transparency, legal compliance, and accountability in the management of public funds.

BudgIT also urged citizens, civil society organisations, the private sector, academia, and the international community to seek the urgent publication of the expenditure performance underpinning the federal government’s 2024 budget.

Comment here