RismadarVoice Reporters, July 5, 2026
The Federal Government of Nigeria has dismissed claims that it spent more than ₦8 trillion outside the approved 2026 budget, describing the allegations as misleading and inconsistent with Nigeria’s constitutional and public finance framework.
In a statement issued on Sunday by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the government said it does not operate a “shadow budget” or expend public funds outside legislative approval.
The ministry explained that all federal expenditures are made in accordance with the 1999 Constitution, Appropriation Acts, Supplementary Appropriation Acts and other laws enacted by the National Assembly.
It noted that multi-year capital projects, statutory transfers, debt servicing obligations and special intervention programmes are all backed by law and should not be interpreted as unauthorised or secret spending.
According to the statement, reports alleging that about two per cent of Nigeria’s Gross Domestic Product, estimated at over ₦8 trillion, was spent outside the budget misrepresented observations contained in the International Monetary Fund’s 2026 Article IV Consultation Report.
The ministry clarified that the IMF’s comments relate to the presentation and comprehensiveness of fiscal reporting rather than the legality of government expenditure.
It further stressed that differences between budget presentation and international fiscal reporting standards do not amount to unlawful spending, adding that such classifications are recognised practices in public financial management.
The Federal Government also rejected claims that the reported amount reflected an increase in the country’s fiscal deficit, explaining that deficits are determined by the relationship between total government revenue and expenditure, regardless of the financing mechanism used for approved projects.
The ministry said the Tinubu administration has continued to strengthen fiscal discipline through reforms aimed at improving budget credibility, treasury management, revenue administration and the digitalisation of government financial processes.
Reaffirming its commitment to transparency and accountability, the Federal Government urged the public to base discussions on verifiable facts, noting that constructive public debate should accurately reflect Nigeria’s constitutional and fiscal framework.
