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IMF: Tinubu’s govt dismisses report on alleged missing N8trn
The Federal Government has rubbished claims that over ₦8 trillion was spent outside the 2025 budget, insisting that all public expenditures were made within Nigeria’s constitutional and legal framework.
In a statement issued on Sunday by Taiwo Oyedele, Minister of Finance, the government said reports alleging that about two percent of Nigeria’s Gross Domestic Product, GDP, estimated at over ₦8 trillion, was spent outside the approved budget were based on a misrepresentation of the International Monetary Fund’s, IMF, 2026 Article IV Consultation Report.
The ministry maintained that the Federal Government does not operate a “shadow budget” or spend public funds without legislative approval.
It explained that under Sections 80 to 83 and 162 of the 1999 Constitution, all public funds can only be withdrawn and spent in accordance with the Constitution and laws passed by the National Assembly. According to the ministry, government expenditure is undertaken through duly enacted Appropriation Acts, Supplementary Appropriation Acts and other statutory authorisations.
The ministry added that multi-year capital projects are implemented under existing laws and approved capital rollovers where applicable, stressing that such projects should not be interpreted as spending outside the budget.
It further argued that allegations of secret spending lacked evidence, saying anyone making such claims should 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,” Oyedele said.
The ministry also clarified that Nigeria’s public finance system includes statutory transfers, first-line charges and intervention mechanisms established by Acts of the National Assembly. These include statutory allocations to development commissions and agencies, revenue collection costs retained by designated agencies, separate capital budgets for some agencies and the Federal Capital Territory, special interventions for national priorities such as security and infrastructure, as well as debt servicing obligations.
According to the ministry, these expenditures are lawful, publicly disclosed and subject to oversight, audit and accountability mechanisms, although their presentation in fiscal reports may differ from their appearance in the annual Appropriation Act due to international reporting standards.
The government also rejected suggestions that the reported ₦8 trillion represented an increase in the country’s fiscal deficit, explaining that fiscal deficits are determined by the relationship between total government revenue and expenditure rather than the financing mechanism used for approved projects.
It stated that the IMF’s observations were primarily about the comprehensiveness, timing and presentation of fiscal reporting rather than the legality of government spending.
The ministry noted that President Bola Tinubu had already asked the National Assembly to harmonise multiple and overlapping budgets into a single framework while presenting the 2026 Appropriation Bill on December 19, 2025.
It added that the administration remained committed to prudent fiscal management, transparency and accountability, citing ongoing reforms in budget credibility, revenue administration, digitalisation of government financial processes and treasury management.
The statement urged Nigerians to base public debate on verified facts and an accurate understanding of the country’s fiscal framework, warning against misrepresenting technical observations as evidence of unlawful expenditure.
By Prosper Olayiwola
A House of Assembly Candidate for Ikole Constituency 1 on the platform of the African Democratic Congress, ADC, Kayode Arewa Sanni, has called on his constituents, party members and supporters to unite ahead of the 2027 general elections.
Arewa Sanni made the call in Ikole-Ekiti while addressing party faithful and supporters at a stakeholders’ meeting convened to strengthen grassroots mobilisation in the constituency.
He said the 2027 elections present a defining moment for the people of Ikole Constituency 1 to chart a new course of inclusive representation, people-oriented legislation and accelerated development.
The candidate noted that disunity among party members and supporters remains the greatest obstacle to victory, stressing that only a united front can dislodge entrenched interests and deliver the dividends of democracy to the people.
“I appeal to all our party leaders, members, supporters and well-wishers across Ikole Constituency 1 to put aside personal differences and work together as one family. Our strength lies in our unity,” he said.
Arewa Sanni said his candidacy was driven by a desire to give Ikole Constituency 1 a vibrant and responsive voice in the Ekiti State House of Assembly, with focus on youth empowerment, education, healthcare and rural infrastructure.
He assured constituents that if given the mandate, he would prioritise quality representation and ensure that government presence is felt in all communities within the constituency.
He also called on supporters of the ADC across Ekiti State to rally behind the party’s vision of good governance, transparency and accountability as preparations for the 2027 polls gather momentum.
The aspirant expressed confidence that with unity, commitment and collective effort, the ADC would emerge victorious in Ikole Constituency 1 and other constituencies across the state.
No fewer than six inmates have died within one week following a suspected cholera outbreak at the Kurmawa Maximum Prison in Kano State.
Amnesty International raised the alarm in a post on its official Facebook page, calling on authorities to immediately declare an emergency at the correctional facility.
Amnesty said several other inmates were currently receiving treatment, warning that the death toll could be higher as the suspected disease continues to spread among prisoners.
It urged the authorities to immediately transfer critically ill inmates to hospitals for proper medical attention to prevent further deaths.
The organisation warned that failure to urgently intervene could amount to arbitrary deprivation of life, which it described as a serious human rights violation under international law.
Amnesty also expressed concern over the broader conditions in Nigerian correctional facilities, particularly the prolonged detention of inmates awaiting trial.
According to the organisation, detainees without financial means face greater difficulty having their rights protected, with some spending years in custody without being convicted of any crime.
It further said many inmates were being held in overcrowded and unhygienic cells without adequate food and healthcare.
Amnesty called for urgent reforms to improve conditions in Nigerian correctional facilities and ensure compliance with international best practices.
Popular media personality and self-acclaimed relationship expert, Blessing Okoro, popularly known as Blessing CEO, has reportedly lost her second son while remanded in custody.
The development was confirmed in an online appeal by Amira Agiye, head of the Isaamira Love Foundation, who spoke on Okoro’s behalf to request public financial assistance.
She said, “It is sad to announce to you all that Blessing CEO just lost her second son. My name is Amira Agiye.
“I’m here to appeal on behalf of Blessing CEO, who is currently in custody. I understand that people might have different opinions about her and the circumstances surrounding her case.
“And like every one of us, she deserves compassion and an opportunity for redemption.
She needs N20 million to meet the bail requirements. She also needs N36 million to pay the people she owes who brought the case against her.
“Please, Nigerians, let’s forgive her for the sake of that boy who is still in the mortuary. With Blessing’s full consent and authorisation, I’m appealing to all Nigerians to help donate so we can help her out of this situation.”
Also speaking in a voice conversation played by Amira, Blessing, CEO, said, “My second son, Bryan, was full of life. While in custody, I lost Bryan.
I pray this turns out positive so I can leave this place, pick up the pieces of my life and pay my respects to him.”
Recall that the self-acclaimed relationship expert was remanded in Kirikiri Prison over an N69.15 million property fraud trial.
She was granted N20 million bail in July 2026, with two sureties in like sum, and each surety was required to provide three years’ proof of deposits valued at N20 million.
Following her inability to meet the bail conditions, Blessing CEO, remains in prison facility two months after she was granted bail.
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