The Federal Government of Nigeria has dismissed allegations suggesting that it spent about ₦8 trillion outside its approved budget framework, insisting that recent claims attributed to an International Monetary Fund (IMF) report are inaccurate and have been misrepresented.
Officials say the narrative circulating in sections of the media misinterprets fiscal data and fails to reflect the government’s actual spending structure and reporting methodology.
According to the government’s position, all expenditure channels remain within legally established public finance frameworks, including supplementary budgets and approved fiscal mechanisms. It further argued that the figures being circulated do not represent “extra-budgetary spending” in the way they are being portrayed.
Authorities also stressed that Nigeria continues to comply with fiscal reporting standards and maintains transparency in its budget implementation process, despite ongoing economic pressures and reforms in public finance management.
The clarification comes amid growing scrutiny of Nigeria’s public spending and debt profile, as economic observers and international institutions continue to assess the impact of subsidy removal, exchange rate reforms, and widening fiscal deficits.
Government officials have urged the public and media organisations to exercise caution in interpreting technical financial reports, warning that selective readings could lead to misleading conclusions about the country’s economic management.
The IMF has not issued a direct response to the government’s latest rejection of the interpretation at the time of filing this report.
