The Tinubu administration has rejected claims that over ₦8 trillion was utilized outside the 2025 Appropriation Act, asserting that all public spending adheres to the Nigerian Constitution and relevant laws.
This statement comes in response to widespread interpretations of the International Monetary Fund (IMF) 2026 Article IV Consultation Report, which some claimed implied approximately two percent of Nigeria’s Gross Domestic Product (GDP), estimated at more than ₦8 trillion, was spent beyond the sanctioned budget.
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Finance Minister Taiwo Oyedele issued a statement on Sunday, characterizing these interpretations as a misrepresentation of the IMF’s findings, and emphasized that the Federal Government does not engage in unauthorized spending without legislative approval.
He pointed out that the 1999 Constitution, specifically Sections 80 to 83 and 162, mandates that public funds can only be disbursed according to laws passed by the National Assembly.
According to Oyedele, government expenditures occur through officially passed Appropriation Acts, Supplementary Appropriation Acts, and other legal authorizations, with multi-year capital projects conducted in line with established laws and approved capital rollovers.
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The minister argued that assertions of covert or unlawful spending lack substantiated proof, urging those making such claims to specify projects allegedly carried out without proper appropriations or legal support.
“It’s incorrect to claim that trillions of naira have been secretly spent without legislative approval. Such accusations should pinpoint the specific projects supposedly carried out without appropriate legislation and provide valid evidence,” Oyedele stated.
The ministry also clarified that Nigeria’s public finance system encompasses statutory transfers, first-line charges, intervention funds, debt service commitments, and other legally approved expenditures, all subjected to legislative oversight, auditing, and accountability.
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Moreover, it dismissed claims that the mentioned figure indicated a rise in Nigeria’s fiscal deficit, explaining that fiscal deficits are assessed by the balance between government revenue and spending, rather than by the financing methods employed for approved initiatives.
The ministry noted that the IMF’s comments were chiefly focused on the clarity, timing, and thoroughness of fiscal reporting rather than suggesting any illegal spending.
The government reminded that President Bola Tinubu had previously urged the National Assembly to consolidate various government budgets into one cohesive fiscal framework while introducing the 2026 Appropriation Bill, which is part of ongoing reforms intended to enhance transparency and budget integrity.
Reiterating its commitment to responsible fiscal management, the Federal Government pledged to continue reforms in revenue administration, treasury management, and the digitalization of public finances, encouraging citizens to rely on verified information rather than misleading interpretations of technical fiscal reports.
