The Director General of the Budget Office of the Federation, Dr. Tanimu Yakubu, has clarified that the Federal Government’s operation of multiple budgets concurrently is not a fiscal anomaly, but a legal and practical fiscal approach consistent with global practices.
Reacting to public concerns over the second extension of the 2024 Budget by the National Assembly, Dr. Yakubu explained in a statement titled “Why Nigeria is running multiple budgets” that the country is currently implementing three budget instruments:
- The 2024 Main Appropriation Act
- The 2024 Supplementary Budget
- The 2025 Appropriation Act
“While this may raise eyebrows, it is not a fiscal anomaly,” Yakubu said. “It reflects the real-world overlap between budget law, execution delays, and system-wide reform efforts.”
He pointed out that the 2024 Appropriation Act, signed in January 2024, remains valid through December 31, 2024, unless formally repealed or otherwise extended. It continues to serve as the primary legal framework for federal spending, particularly in relation to capital projects and statutory obligations tied to 2024 project codes.
Yakubu noted that similar budget overlaps are observed in countries such as India, Indonesia, and Kenya, where legislative frameworks allow multiple fiscal instruments to operate within the same calendar year, especially in the face of evolving national priorities and execution timelines.
He emphasised that the budget extensions and concurrent implementations are part of broader efforts to improve fiscal discipline, transparency, and delivery effectiveness amid Nigeria’s ongoing public sector reforms.
The Budget Office, he assured, remains committed to ensuring alignment between legal appropriations and practical budget execution, while adhering to international best practices.
