The Federal Government has strongly rejected allegations by former Vice President Atiku Abubakar that it spent over ₦8.8 trillion outside the country’s official statutory budget framework. Officials firmly clarified that no public money was processed or expended in violation of the constitution.
The political dispute erupted after Atiku, representing the African Democratic Congress, cited a recent International Monetary Fund (IMF) Article IV Consultation report. Atiku claimed the report exposed unrecorded spending equivalent to two percent of Nigeria's Gross Domestic Product. He branded the discrepancy as "the most consequential act of fiscal impunity in Nigeria's recent democratic history" and accused the presidency of establishing a secret political war chest.
Responding to the allegations, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, issued an official statement dismissing the opposition leader's claims as incorrect and highly misleading to the public. The administration emphasised that its fiscal management strictly follows standard legislative oversight.
"For the avoidance of doubt, the Federal Government does not operate a ‘shadow budget’ or expend public funds outside the constitutional and statutory framework established for public finance," Oyedele stated.
The finance minister explained that the ₦8.8 trillion figure represents fully legal, multi-year capital projects, debt servicing, first-line charges, and statutory allocations to federal development commissions. He noted that the IMF's observations were focused entirely on the technical timing and international presentation of fiscal data, rather than any illegal spending actions. Oyedele challenged critics to present verifiable facts and name specific unauthorised projects rather than depending on conjecture.
To resolve ongoing international reporting differences, the presidency noted that a unified, single harmonised framework was already submitted to the National Assembly during the 2026 Appropriation Bill presentation to phase out overlapping budget structures.