The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the approved 2026 budget, describing the allegations as inaccurate and based on a misinterpretation of the International Monetary Fund’s (IMF) 2026 Article IV Consultation Report. Officials insisted that all government expenditures were made within Nigeria’s constitutional and legal framework.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the Federal Government does not operate a “shadow budget” and has not spent public funds outside legislative approval. He explained that all federal expenditures are backed by Appropriation Acts, Supplementary Appropriation Acts, or other statutory authorisations approved by the National Assembly.
According to the minister, some of the figures referenced in public discussions relate to statutory transfers, multi-year capital projects, debt servicing obligations, and other legally authorised expenditures that may be presented differently under international fiscal reporting standards. He stressed that these accounting classifications should not be interpreted as evidence of unlawful or undisclosed spending.
Oyedele further clarified that the IMF’s observations were focused on improving the comprehensiveness and presentation of Nigeria’s fiscal reporting rather than alleging illegal spending or financial misconduct. He added that the government is implementing reforms to harmonise budget reporting and strengthen transparency in public financial management.
The Federal Government reaffirmed its commitment to prudent fiscal management, accountability, and compliance with constitutional provisions governing public finance. Officials also urged the public to rely on verified information when assessing fiscal reports and budget implementation
