By Attah Ede
President Bola Ahmed Tinubu has stated that the Federal Government under his watch has not spent more than ₦8 trillion, estimated at about two per cent of Nigeria’s Gross Domestic Product (GDP), outside the approved national budget.
This denial was contained in a statement issued by the Federal Ministry of Finance on Sunday.
Tinubu described the claims as incorrect and capable of misleading Nigerians about the management of public finances.
The statement, signed by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, followed public commentary linked to observations attributed to the International Monetary Fund’s representative in Nigeria and the Fund’s 2026 Article IV Consultation Report.
The government insisted that it does not operate a “shadow budget” or spend public funds outside constitutional and statutory financial procedures.
“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,” the statement read.
The government cited Sections 80 to 83 and 162 of the 1999 Constitution, as amended, which regulate the withdrawal and expenditure of public funds.
It said Federal Government expenditure was undertaken through Appropriation Acts, Supplementary Appropriation Acts and other statutory authorities approved by the National Assembly.
The ministry also explained that multi-year capital projects, which may span several budget cycles, were implemented in line with existing laws and approved capital rollover provisions where applicable.
“These are recognised features of public financial management and should not be misconstrued as expenditures outside the budget,” the government said.
It challenged those alleging that trillions of naira were secretly spent to identify specific projects allegedly executed without appropriation or legal authority.
“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.
“To be meaningful, assertions of this magnitude must be supported by verifiable facts rather than conjecture,” the ministry added.
The government said it was important to distinguish between appropriation, expenditure authorisation, financing and fiscal reporting when analysing Nigeria’s public finances.
