FG Refutes Allegations of ₦8tn Spending Outside Budget

The Federal Government has dismissed claims that it spent ₦8 trillion outside the 2025 national budget, insisting that the allegations misrepresent the International Monetary Fund (IMF) report.

In a statement issued by the Ministry of Finance, the government clarified that the IMF’s Article IV consultation report was misinterpreted by critics. It stressed that all expenditures were duly appropriated and accounted for within the framework of the approved budget.

The Ministry explained that the IMF report highlighted discrepancies in reporting formats, not unauthorized spending. According to officials, the ₦8 trillion figure was linked to financing adjustments and debt servicing, which were captured in supplementary fiscal documents.

The government maintained that Nigeria’s fiscal operations remain transparent and subject to legislative oversight. It added that the IMF’s observations were technical, relating to classification of expenditures, rather than evidence of corruption.

The clarification comes after opposition figures, including Peter Obi, accused the Tinubu administration of concealing ₦8.83 trillion in spending. Obi had described the alleged expenditure as proof of corruption and financial mismanagement.

However, the government countered that such claims were politically motivated and aimed at undermining public confidence. Officials urged Nigerians to rely on verified information rather than partisan interpretations.

The Ministry of Finance reiterated its commitment to fiscal discipline, noting that budgetary processes are subject to National Assembly approval. It assured citizens that no funds were spent outside legal provisions.

The government also pointed to ongoing reforms in public financial management, including digital tracking of expenditures and enhanced reporting standards, as measures to strengthen accountability.

While the IMF raised concerns about Nigeria’s fiscal pressures, it did not accuse the government of illegal spending. Instead, the report recommended improvements in budget documentation and transparency to align with international best practices.

Nigeria continues to grapple with rising debt and revenue challenges. Analysts note that controversies around fiscal reporting highlight the need for clearer communication between government institutions and the public.

The government’s denial seeks to reassure citizens and investors that fiscal operations remain within legal boundaries. Yet, the debate underscores persistent tensions between the administration and opposition figures over governance and accountability.