The Federal Government has announced that the implementation of the 2025 national budget will begin by the end of September, as execution of the 2024 fiscal plan winds down.
This was disclosed by the Director-General of the Budget Office of the Federation, Tanimu Yakubu, during the 3rd Quarter Ministerial Stakeholders and Citizens Engagement Forum, hosted by the Ministry of Budget and National Planning in Abuja on Thursday. Yakubu explained that the ₦54.99tn 2025 budget, tagged the Budget of Restoration, was designed to stimulate economic growth, improve public services, and attract investments across key sectors.
“The implementation of the 2025 budget will begin by the end of September. The budget aims to address critical sectors, boost economic growth, and improve public services. Effective execution and fiscal discipline will be vital to its success,” Yakubu said.
The DG underscored the importance of citizen participation, stressing that Nigerians remain the ultimate owners of public resources. He revealed that initiatives were underway to translate budget documents into local languages, simplify technical content, and empower communities to hold government accountable.
Yakubu also identified challenges facing Nigeria’s public finance system, including setting realistic oil revenue targets, tackling the fiscal implications of the Petroleum Industry Act, improving transparency in tax credit schemes and project financing, and prioritising debt servicing—already pegged at N14.3tn in the 2025 budget.
He further outlined measures to support the government’s ambition of transforming Nigeria into a $1tn economy by 2030. These include ward-based development programmes across 8,809 wards, tax reforms, strict fiscal discipline, and innovation partnerships such as the $30.9m Nigeria-Japan start-up initiative.
The Minister of Budget and National Planning, Atiku Bagudu, reaffirmed the government’s commitment to transparency and evidence-based decision-making. “Our policies and programmes must be based on facts, not speculation. Data is the foundation of responsible governance,” Bagudu said.
He added that the recurrent portion of the 2025 budget was already in motion, as salaries were being paid and debts serviced.
The Statistician-General of the Federation, Adeyemi Adeniran, stressed the need for greater investment in statistical systems and wider public understanding of data’s role in governance.
He pointed out that underfunding, outdated tools, and small survey sample sizes still undermine the precision of Nigeria’s national statistics. Nevertheless, he assured that the National Bureau of Statistics adheres to global best practices, guided technically by the United Nations and the World Bank.
Adeniran also highlighted ongoing initiatives, such as statistical literacy programmes, enhanced data visualisation tools, a revamped NBS website, and closer engagement with civil society groups.
Speaking after a closed-door meeting with the House of Representatives Committee on Appropriation, chaired by Hon. Abubakar Bichi (APC, Kano), the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said that the performance level of the extended 2024 budget had reached about 80 per cent.
However, challenges remain. In August, The PUNCH reported that the 2025 budget might be extended into 2026 due to slow capital project execution, procurement delays, and technical hitches with the cash-planning portal.
This possibility was raised at an earlier stakeholders’ engagement in Abuja, convened by the Office of the Accountant-General of the Federation to review the progress and obstacles in implementing both the extended 2024 capital budget and the ongoing 2025 capital budget under the Bottom-Up Cash Planning Policy.
Thursday’s forum, which brought together senior government officials, development partners, civil society leaders, and citizens, reaffirmed the central role of credible data and fiscal discipline in shaping Nigeria’s development trajectory.
With budget implementation set to commence by the end of September, expectations remain high that the Budget of Restoration will provide the stimulus needed to restore stability and chart the path toward long-term economic growth.
