{"id":1654,"date":"2024-07-08T15:59:02","date_gmt":"2024-07-08T15:59:02","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=1654"},"modified":"2024-07-08T15:59:02","modified_gmt":"2024-07-08T15:59:02","slug":"tinubu-administration-releases-q3-2023-budget-report-after-exposed-violation-of-fiscal-act","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2024\/07\/08\/tinubu-administration-releases-q3-2023-budget-report-after-exposed-violation-of-fiscal-act\/","title":{"rendered":"Tinubu Administration Releases Q3 2023 Budget Report After Exposed Violation Of Fiscal Act"},"content":{"rendered":"
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Investigation has revealed that the Tinubu administration had failed to release budget performance reports since taking office, contrary to legal requirements.<\/p>\n<\/div>\n<\/div>\n

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The Nigerian Government has released the budget performance report for the first quarter of President Bola Tinubu’s administration, covering June to September 2023.<\/p>\n

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This release comes about three weeks after media drew attention to the administration’s delay in publishing the report, which is mandated by law.<\/p>\n

The Tinubu administration had failed to release budget performance reports since taking office, contrary to legal requirements.<\/p>\n

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A review of documents on the Budget Office of the Federation’s website showed that no such reports had been published during President Tinubu’s tenure, sparking concerns over transparency and accountability in governance.<\/p>\n

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The failure to publish budget performance reports by the Tinubu administration marks a departure from the norm, as it is the first time since 2015 that an administration has neglected to do so, according to data from the Budget Office of the Federation. These reports are essential for transparency and accountability, as they provide insights into how the government utilises public funds and allocates resources.<\/p>\n

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The federal government is mandated to release quarterly reports on its expenditure and revenue generation, which are typically made available on the Budget Office’s website. These documents are usually published on a regular basis, every three months, to provide transparency and accountability in government spending and financial management.<\/p>\n

This is a clear violation of the Fiscal Responsibility Act. Specifically, Section 30 (2) of the Act requires the Ministry of Finance to publish budget performance reports in various media outlets and on its website within 30 days of the end of each quarter, a mandate that has been ignored by the current administration.<\/p>\n

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While the federal government has released its budget performance report for the third quarter of 2023, it still remains delinquent on publishing reports for the fourth quarter of 2023 and the first quarter of 2024, perpetuating a transparency gap in its financial reporting.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n