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FG Releases Q1 Budget Report Under Tinubu
The Nigerian Government has published the budget performance report for President Bola Tinubu’s first quarter.
EKO HOT BLOG reports that the Nigerian Government has published the budget performance report for the first quarter of President Bola Tinubu’s administration, covering June to September 2023.
According to SaharaReporters, no budget performance reports had been published since President Tinubu assumed office, raising concerns over transparency and accountability.
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This omission marks the first time since 2015 that an administration has failed to release these reports, which are crucial for providing insight into government spending and resource allocation.
By law, the federal government must release quarterly reports on expenditure and revenue generation. These reports are typically available on the Budget Office’s website every three months to ensure transparency and accountability.
SaharaReporters pointed out that the administration’s failure to release these reports violates the Fiscal Responsibility Act.
Q1 Budget Report
Specifically, Section 30 (2) of the Act requires the Ministry of Finance to publish budget performance reports within 30 days of the end of each quarter.
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Although the federal government has now released the budget performance report for the third quarter of 2023, it has yet to publish reports for the fourth quarter of 2023 and the first quarter of 2024, continuing a transparency gap in its financial reporting.
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