The Federal Government has rejected claims that it spent more than ₦8 trillion outside the 2026 budget, insisting that the reports are based on a misinterpretation of the International Monetary Fund’s (IMF) 2026 Article IV Consultation Report.
In a statement issued on Sunday, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the Federal Government does not operate a “shadow budget” and does not spend public funds outside the constitutional and legal framework governing public finance.
According to Oyedele, the claims that about 2% of Nigeria’s GDP (over ₦8 trillion) was spent outside the budget are incorrect and risk misleading the public. He stressed that all federal spending is authorized through the Constitution, Appropriation Acts, supplementary budgets, statutory transfers, or other legally approved mechanisms.
The clarification follows public debate over remarks in the IMF’s report, which noted gaps in the reporting of some government expenditures and recommended continued efforts to eliminate spending outside the budget sphere and improve fiscal transparency. The IMF’s report focused on improving the completeness and presentation of fiscal reporting, rather than alleging illegal or secret spending by the government.
The controversy had prompted opposition figures, including Atiku Abubakar and Peter Obi, to call for an investigation into the alleged off-budget expenditure. The Federal Government, however, maintains that the allegations are based on a misunderstanding of the IMF’s observations.
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