Post by Miebaka Emmanuel Ikiriko (@miebaka86)

BREAKING: FG Rejects Claims of ₦8.8 Trillion Unrecorded Spending, Says IMF Report Misinterpreted

The Federal Government has denied allegations that it spent ₦8.8 trillion outside the budget, calling claims based on the IMF's 2026 Article IV Consultation "misleading."

Former VP Atiku Abubakar cited the report to accuse the Tinubu administration of "fiscal impunity" and building a "parallel fiscal universe." But the IMF's actual findings point to "statistical discrepancies" and "extrabudgetary funds" items like customs levies, education taxes, and ecology accounts that fall outside the traditional budget perimeter, not necessarily hidden spending.

The IMF did flag Nigeria's weak budget credibility, overlapping budget cycles, and revenue shortfalls. The 2024 deficit was overrun by ₦4.34 trillion (47%). But the Fund urged better data reconciliation between agencies not criminal off-budget spending.

With a ₦68.32 trillion 2026 budget and ₦29.2 trillion deficit, fiscal transparency remains critical. The FG insists the ₦8.8 trillion figure is a technical accounting classification, not proof of corruption.

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