Nigeria, May 18 -- The Federal Government has explained the delayed publication of recent Quarterly Budget Implementation Reports, saying fiscal years are defined by legislative provisions and not strictly by the January-to-December calendar cycle.

In a statement issued on Sunday, the Director-General of the Budget Office of the Federation, Tanimu Yakubu, said the delay followed the repeal and re-enactment of the 2025 Appropriation Act as well as the extension of the implementation period of the 2025 budget to June 2026.

According to him, the adjustments legally extended the lifespan of the 2025 budget beyond the conventional twelve-month calendar framework ordinarily associated with a fiscal year.

"The fiscal year is not necessarily s...