Nigerian Govt Not Operating 'Shadow Budget' - Finance Minister
Taiwo Oyedele said the federal government spends only under constitutional and legislative authority and challenged critics to produce evidence of off-budget projects.
- On Sunday, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele dismissed claims the Federal Government operates a "shadow budget," insisting all expenditures remain within the constitutional and statutory framework.
- Presidential candidate Peter Obi accused President Bola Tinubu's administration of "grand corruption," citing an alleged N8.83 trillion in unbudgeted expenditure from a recent International Monetary Fund consultation report.
- The alleged funds represent about 2% of Nigeria's GDP and over 35% of the 2025 capital budget, exceeding combined allocations for education and health.
- Oyedele clarified that differences between fiscal reporting and appropriation laws arise from international standards rather than unlawful spending, stressing all expenditures are lawful and subject to audit.
- President Tinubu advocated harmonizing overlapping budgets into a single framework during the December 2025 Appropriation Bill presentation, while the government continues strengthening fiscal governance with the National Assembly.
23 Articles
23 Articles
Nigerian Govt Not Operating 'Shadow Budget' - Finance Minister
"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," Mr Oyedele stated.
FG, opposition differ over alleged N8trn off-budget spending
The Federal Government has come under fresh scrutiny following controversy surrounding observations by the International Monetary Fund (IMF) regarding over N8 trillion in unreported public spending. The controversy erupted after comments attributed to the IMF’s Resident Representative in Nigeria, Christian Ebeke, during a public event in Lagos, where he reportedly stated that public expenditure equivalent to about two per cent of Nigeria’s Gross…
FG denies spending N8tn outside budget, says claims misrepresent IMF report
By Innocent Anaba The Federal Government has dismissed claims that it spent over N8 trillion outside the approved budget, describing the allegation as false and a misrepresentation of the 2026 Article IV Consultation Report by the International Monetary Fund, IMF. The government said reports suggesting that about two per cent of Nigeria’s Gross Domestic Product, […] The post FG denies spending N8tn outside budget, says claims misrepresent IMF re…
Nigerian govt not operating “shadow budget” – Finance Minister
"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,” Mr Oyedele stated. The post Nigerian govt not operating “shadow budget” – Finance Minister appeared first on Premium Times Nigeria.
Obi demands accountability over IMF’s ₦8.83tn off-budget spending report
Peter Obi demands accountability from the Tinubu administration regarding the IMF’s report of ₦8.83 trillion in off-budget spending, citing grand corruptio Read More: https://punchng.com/obi-demands-accountability-over-imfs-%e2%82%a68-83tn-off-budget-spending-report/
'Tinubu must resign' - Peter Obi exposes alleged grand corruption under APC govt
Presidential candidate of the Nigeria Democratic Congress, NDC, Mr Peter Obi, has accused the administration of President Bola Tinubu of presiding over what he described as “grand corruption,” citing an alleged N8.83 trillion in unbudgeted expenditure highlighted in a recent International Monetary Fund consultation report. In a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” posted […] ‘Tinubu must resign’ – Peter Obi exposes all…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
