The Federal Government has announced that implementation of the 2025 national budget will commence by the end of September, as the execution of the 2024 budget winds down.

The disclosure was made by the Director-General of the Budget Office of the Federation, Mr. Tanimu Yakubu, at the 3rd Quarter Ministerial Stakeholders and Citizens Engagement Forum, hosted by the Ministry of Budget and National Planning in Abuja.

The N54.99 trillion 2025 budget, tagged the “Budget of Restoration”, is designed to stimulate economic growth, enhance public services, and drive investments in key sectors. Yakubu stressed that effective implementation and prudent fiscal management will be critical to its success.

He also emphasized the importance of citizen involvement, describing Nigerians as “the ultimate owners of public resources.” He listed initiatives such as translating budget documents into local languages, simplifying budget content, and empowering communities to hold government accountable.

Fiscal Priorities

The DG highlighted challenges in Nigeria’s public finance system, including: Setting realistic revenue targets, especially in the oil sector. Addressing fiscal implications of the Petroleum Industry Act (PIA). Improving revenue recognition in project financing and tax credit schemes. Prioritizing debt servicing, which accounts for N14.3 trillion in the 2025 budget.

He outlined strategies to support Nigeria’s ambition of becoming a $1 trillion economy by 2030, including ward-based development programs across 8,809 wards, tax reforms, stronger fiscal discipline, and innovation partnerships such as a $30.9 million Nigeria-Japan start-up initiative.

Minister Stresses Evidence-Based Governance

Minister of Budget and National Planning, Senator Atiku Bagudu, reaffirmed the Federal Government’s commitment to transparency and data-driven decision-making. “Our policies and programs must be shaped by facts, not speculation. Data is the bedrock of responsible governance,” he said.

Statistician-General Calls for Greater Investment in Data

Statistician-General, Prince Adeyemi, called for stronger public understanding of statistical work, greater investment in data systems, and constructive engagement from the media and civil society.

He explained that challenges such as limited survey sample sizes, underfunding, and outdated tools undermine precision and quality of national statistics. While acknowledging global shifts in definitions such as unemployment, he stressed that the National Bureau of Statistics (NBS) adheres to international best practices and receives technical guidance from the UN and World Bank.

“Statistics are public goods. Citizens should not only have access to them, but also understand what they mean. We need every stakeholder, including the media, to help achieve that,” Adeyemi noted.

He listed ongoing initiatives, including statistical literacy programs, improved data visualization tools, a remodeled NBS website, and regular engagement with civil society groups.

The event brought together senior government officials, civil society leaders, development partners, and citizens, underscoring the central role of credible data in shaping Nigeria’s fiscal and development trajectory. (Vanguard)