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FG denies spending ₦8tn outside budget, says IMF report misrepresented
The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the 2026 budget, describing the reports as inaccurate and a misrepresentation of the International Monetary Fund’s 2026 Article IV Consultation Report.
The government said the allegations, which referenced comments attributed to the IMF Representative in Nigeria and the Fund’s report, wrongly suggested that about two per cent of Nigeria’s Gross Domestic Product was expended outside the approved budget.
This was contained in a statement issued on Sunday by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The rebuttal comes after IMF disclosed that Nigeria left public spending equivalent to about 2% of GDP unreported in recent official budgets, obscuring the country’s true financing needs and making the fiscal deficit appear smaller than it actually was.
Speaking in Lagos, IMF Resident Representative in Nigeria, Christian Ebeke, said, “So far we think that there are about two per cent of GDP of expenditure that were not reported that should be reported and should be recorded, so that this statistical discrepancy will disappear.”
Reacting, opposition figures, including Former Vice President Atiku Abubakar and the National Democratic Party’s presidential candidate, Peter Obi, accused President Bola Tinubu’s administration of entrenched corruption and called for probe.
But Oyedele said the Federal Government does not operate a “shadow budget” or spend public funds outside the constitutional and statutory framework.
“The Federal Government has noted recent public commentary alleging that approximately two per cent of GDP amounting to over ₦8 trillion was spent outside the approved budget based on references to the IMF Representative in Nigeria and the Fund’s 2026 Article IV Consultation Report.
“These claims are incorrect and risk misleading the public regarding the government’s financial management,” the statement said.
Oyedele explained that under Sections 80 to 83 and 162 of the 1999 Constitution, public funds could only be withdrawn and spent in accordance with the Constitution and laws enacted by the National Assembly.
He said Federal Government spending was undertaken through duly enacted Appropriation Acts, Supplementary Appropriation Acts and other statutory authorities approved by the National Assembly.
The minister added that multi-year capital projects implemented across different budget cycles and approved capital rollovers were recognised components of public financial management and should not be misconstrued as spending outside the budget.
“It is inaccurate to suggest that trillions of naira have been secretly spent outside legislative approval. Such allegations should have identified the specific projects purportedly executed without appropriation or legal authority and present credible evidence in support of the claim,” he said.
Oyedele also clarified that statutory transfers, debt service obligations, first-line charges and intervention mechanisms established by Acts of the National Assembly formed part of Nigeria’s public finance framework.
He listed statutory allocations to development commissions, revenue collection costs retained by designated agencies, separately approved capital budgets for some agencies and the Federal Capital Territory, security and infrastructure interventions, disaster response programmes, and debt servicing obligations among expenditures authorised by law.
“These expenditures are neither secret nor illegal. They are established by law, disclosed in various fiscal reports, and subject to applicable oversight, audit and accountability mechanisms,” he stated.
The minister further rejected suggestions 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,” he added.
He said the IMF’s observations focused on improving the comprehensiveness, timing and presentation of fiscal reporting rather than questioning the legality of government expenditure.
According to him, Tinubu had already asked the National Assembly during the presentation of the 2026 Appropriation Bill on December 19, 2025, to end the practice of operating multiple and overlapping budgets and instead adopt a single, harmonised budget framework.
Oyedele said the Federal Government remained committed to prudent fiscal management, transparency and accountability, noting that recent reforms had strengthened budget credibility, revenue administration, treasury management and the digitalisation of government financial processes.
“The Federal Government will continue to uphold the rule of law, maintain transparency in the management of public resources, and work with the National Assembly, oversight institutions, development partners and the Nigerian people to further strengthen fiscal governance in line with international best practices,” he added.
He urged members of the public to base debates on accurate facts and a proper understanding of Nigeria’s constitutional and fiscal framework, warning that misrepresenting technical observations as evidence of unlawful expenditure undermined informed public discourse.
Governor of Enugu State, Dr. Peter Mbah, has approved the appointment of new members and principal officers to key state institutions as part of the administration’s ongoing efforts to reform institutions, strengthen governance and enhance effective service delivery.
Secretary to the State Government, Prof Chidiebere Onyia, disclosed this in a statement made available to Newsmen on Friday, September 4,2026 in Enugu.
The appointments are as follows:
CIVIL SERVICE COMMISSION
Prof. Gabriel Ajah — Chairman
Christian Mbah — Member One
Mrs. Stella Ekweremadu — Member Two
Mrs. Theresa Onyefuzili Ifeanyichukwu — Member Three
Uzonna Emmanuel Ogarabe — Member Four
Ambrose Nwodo — Secretary
ENUGU STATE TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING (TVET)
Dr. Amaka S. Ngene — Chairman
Bonaventure Onu — Member
Barr. Nnadi Eluke — Member
Kingsley Agwu — Member
Mrs. Joy Odike — Secretary
ENUGU STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY (ESUT) GOVERNING COUNCIL
Barr. Victor Chukwuani — Chairman
Engr. James Ifeanyichukwu Ajibo — Member
Dr. Eric Oluedo — Member
Dr. Mrs. Gladys Ngozi Okoro — Member
Chukwu Chikaodiri Joy — Member
INSTITUTE OF MANAGEMENT AND TECHNOLOGY (IMT) GOVERNING COUNCIL
Hon. Chinedu Onu — Chairman
Dr. Barth Nwankwo — Member
Barr. Emeka Ede — Member
Mrs. Rita Chimaobi — Member
Prince Tony Nwonye — Member
ENUGU STATE POLYTECHNIC, IWOLLO GOVERNING COUNCIL
Rev. Fr. Prof. Anthony Aniagboso Igwe — Rector
Deaconess Ifeoma Nwobodo — Chairman, Governing Council
Obinna Aleke — Member
Barr. Henry Okeke — Member
Emeka Abba — Member
ENUGU STATE COLLEGE OF EDUCATION (TECHNICAL) (ESCET) GOVERNING COUNCIL
Barr. Nwabueze Ugwu — Chairman
Prince Cletus Ajaegbu — Member
Dr. Chiesonu Isiga Eruchalu — Member
Dr. Chukwuemeka Nwatu — Member
Theophilus Onyebeke — Member
The appointments take effect immediately.
Suspected members of Boko Haram terrorists have attacked the convoy of Mustapha Gubio, the governorship flagbearer of the All Progressives Congress (APC) in Borno State.
Sources said the incident took place along the Gubio-Karote-Damasak highway in the northern part of the state on Thursday.
Damasak is located in northern Borno and is about 190km from Maiduguri, the state capital.
The convoy was en route to Mobbar, headquarters of Damasak Local Government Area, to pay a thank-you visit to members of the APC for their support which led to his emergence as the consensus candidate in the party’s last primary elections.
Sources said: “The convoy came under heavy attack around Kareto community at about 2:30pm, but was swiftly repelled by a combined team of security escorts, including soldiers, police, NSCDC, DSS, CTJF and vigilante groups.”
According to an insider who escaped but did not want his name mentioned, “The incident happened during a thank-you tour by Mustapha Gubio and his team to the northern part of the state.
“It was a terrifying moment for us; we came under heavy attacks by terrorists yesterday.”
He continued, “The terrorists fired several Rocket Propelled Grenades (RPGs) on our convoy, which also followed by sporadic shooting. Luckily, our security agencies repelled the attacks.
“Police armoured vehicles were damaged, but there was no casualty,” said the source.
Force Public Relations Officer, Ani Iniedu, confirmed the attack, saying: “Police tactical operatives successfully counter-engaged suspected terrorists who attacked a convoy along the Kareto–Damasak Road with an IED and rocket-propelled grenades.
“The tactical team forced the terrorists to retreat into the surrounding bush and subsequently scanned and cleared the immediate axis to neutralise secondary explosive threats.
“The convoy, conveying a gubernatorial aspirant, government officials and political stakeholders, was safely evacuated to a secure location with no casualties recorded among members of the entourage.”
Atiku Abubakar, the presidential candidate of the African Democratic Congress, has blamed the desperation of young Nigerians to sell their kidneys on President Bola Tinubu’s harsh economic policies.
It could be recalled that the police last week raided a hospital in Abuja, the Federal Capital Territory, FCT, after it was reported that at least 10 young men were victims of organ harvesting.
Atiku, presidential candidate of the African Democratic Congress, ADC, has now accused President Bola Tinubu of making life more expensive for Nigerians, saying he would make the country affordable again if given the opportunity.
In a post on his X handle on Friday, Atiku expressed concern over reports of young Nigerians allegedly selling their kidneys and other body organs in desperate attempts to survive the country’s worsening economic hardship.
He said young Nigerians should be pursuing their dreams, building careers and developing innovative ideas rather than considering the sale of their body organs as a means of survival.
“I have heard disturbing stories about the extent to which young Nigerians are being driven simply to survive.
“Perhaps the most horrifying are the growing reports of young people selling parts of their bodies: kidneys in particular, in desperate attempts to raise money.
“Young people should be selling dreams, ideas and innovation, not their body organs,” Atiku wrote.
He added that the rising cost of food, transportation, rent, school fees, medicine and electricity had worsened the living conditions of many Nigerians.
According to him, reports that some young Nigerians were being driven to sell their kidneys for as little as N1.7 million reflected the level of desperation caused by the cost-of-living crisis.
Atiku said Nigeria’s laws prohibiting commercial organ sales and organ trafficking were insufficient to address the poverty and desperation that make vulnerable young people targets of criminal networks.
He stressed that economic reforms should improve the living conditions of citizens by making basic necessities more affordable.
“Economic reform must have a human face. It must mean affordable food, cheaper transportation, accessible healthcare, decent jobs and renewed hope for the next generation.
“Our young people should be selling their ideas, talents and innovation to the world and not their kidneys for N1.7 million just to survive at home,” he said.
Atiku described the situation as the human cost of Nigeria’s cost-of-living crisis, accusing the Tinubu administration of worsening the economic burden on Nigerians.
He further stated that “Tinubu made Nigeria expensive. I will make Nigeria affordable again.”
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