It’s Inaccurate That Tinubu Govt Spent N8.83trillion Outside Approved Budget— FG

The Federal Government has dismissed claims that the administration of President Bola Tinubu spent about ₦8.83 trillion outside the approved budget, insisting that the allegations are inaccurate and misrepresent the findings of the International Monetary Fund’s (IMF) 2026 Article IV Consultation Report.

In a statement issued by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the government said recent public commentary suggesting that approximately two per cent of Nigeria’s Gross Domestic Product (GDP), estimated at over N8 trillion, was expended outside the constitutional budgetary process was false and capable of misleading Nigerians about the country’s public finance management.

The minister stressed that the Federal Government does not operate a “shadow budget” or spend public funds outside the legal framework established by the Constitution and relevant laws.

According to him, Sections 80 to 83 and 162 of the 1999 Constitution (as amended) provide that public funds can only be withdrawn and spent in accordance with laws passed by the National Assembly.

He explained that all federal expenditures are made pursuant to duly enacted Appropriation Acts, Supplementary Appropriation Acts and other statutory authorities approved by lawmakers.

Oyedele also noted that multi-year capital projects spanning several budget cycles are executed in line with existing laws, including approved capital rollovers where necessary, adding that such projects should not be interpreted as spending outside the budget.

“It is inaccurate to suggest that trillions of naira have been secretly spent outside legislative approval,” the minister said.

He argued that allegations of unlawful expenditure should identify specific projects purportedly executed without appropriation and be backed by credible evidence.

“To be meaningful, assertions of this magnitude must be supported by verifiable facts rather than conjecture,” he added.

The government further clarified that Nigeria’s fiscal framework contains several legally recognised expenditure mechanisms established through Acts of the National Assembly, including statutory transfers to development commissions and agencies, debt servicing obligations, approved security and infrastructure interventions, disaster response funding, and capital expenditures for certain agencies and the Federal Capital Territory.

According to the statement, these expenditures are lawful, publicly disclosed through fiscal reports and remain subject to oversight, auditing and accountability processes.

The minister explained that while the presentation of some expenditures under international fiscal reporting standards may differ from their appearance in the annual Appropriation Act, such classification differences do not amount to illegal spending.

He also rejected claims that the reported amount represented an increase in Nigeria’s fiscal deficit.

“A fiscal deficit is determined by the relationship between total government revenues and total government expenditures. Whether a capital project is financed through annual appropriations, supplementary appropriations, statutory transfers, approved intervention mechanisms, or other lawful financing arrangements does not, by itself, increase the fiscal deficit,” the statement said.

Oyedele maintained that the IMF’s observations were primarily concerned with the comprehensiveness, timing and presentation of Nigeria’s fiscal reporting rather than the legality of government expenditure.

He noted that Nigeria is already implementing reforms to align its budget presentation with international fiscal reporting standards, adding that President Bola Tinubu had previously requested the National Assembly to harmonise multiple and overlapping budgets into a single framework during the presentation of the 2026 Appropriation Bill on December 19, 2025.

The minister said the administration remains committed to prudent fiscal management, transparency and accountability, citing ongoing reforms aimed at improving budget credibility, revenue administration, treasury management and the digitalisation of government financial processes.

He added that these reforms have been acknowledged by the IMF, other multilateral institutions, international credit rating agencies, investors and global media organisations.

While welcoming public scrutiny of government finances, Oyedele urged Nigerians to base public debate on facts and a proper understanding of the country’s constitutional and fiscal framework.

“Mischaracterising technical observations as evidence of unlawful expenditure neither advances informed public discourse nor strengthens democratic accountability,” he said.

He reaffirmed the Federal Government’s commitment to working with the National Assembly, oversight institutions, development partners and Nigerians to strengthen fiscal governance in line with international best practices.