Federal Government has dismissed claims that it is operating a ₦8.83 trillion “shadow budget,” insisting that all public expenditures are made within the framework of the law and are subject to constitutional oversight.
The government’s response follows allegations by former Vice President Atiku Abubakar, who cited an International Monetary Fund (IMF) report to claim that about ₦8.83 trillion in public expenditure carried out in 2025 was not reflected in the national budget.
In a statement on Sunday, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, described the allegations as a misrepresentation of the IMF report and rejected suggestions that it was operating a parallel or secret budget outside legislative scrutiny.
According to the minister, the IMF did not state that Nigeria was operating a shadow budget or that the funds in question were missing. Rather, it explained that the expenditure relates to financing operations and accounting classifications that are recognised under public finance management procedures and do not amount to unapproved spending.
He stressed that all public expenditures are undertaken in line with the provisions of the Constitution, the Appropriation Act and other relevant financial regulations, adding that there is no room for secret or off-budget spending under the current administration.
Oyedele also accused critics of distorting the IMF’s findings to mislead the public and create unnecessary political controversy, urging Nigerians to rely on the actual contents of the IMF report rather than misleading interpretations.
Reaffirming its commitment to transparency and accountability, the minister said the ministry remains open to scrutiny and will continue to strengthen public financial management in line with international best practices.
