Alleged N8.3tn Misappropriation: IMF Got It Wrong… Finance Minister Oyedele

The Federal Government has dismissed claims that it spent ₦8.83 trillion outside the 2025 approved budget, insisting there is no evidence to support the allegation and describing interpretations of the International Monetary Fund (IMF) report as misleading.

The Minister of Finance and Coordinating Minister of the Economy, said the expenditure referenced in the IMF’s Article IV Consultation Report relates to legitimate financing operations carried out in line with existing fiscal frameworks and should not be interpreted as unapproved or missing government spending.

According to the minister, all government expenditures are subject to established public finance procedures, while the IMF report did not accuse the Federal Government of diverting or misappropriating public funds. He maintained that Nigeria remains committed to transparency, fiscal discipline, and accountability in the management of public resources.

The clarification comes amid growing political controversy after former Labour Party presidential candidate Peter Obi cited the IMF report to allege that ₦8.83 trillion was spent without legislative oversight, renewing his call for President Bola Ahmed Tinubu to resign over alleged corruption and poor fiscal management.

The Federal Government, however, maintained that the allegations are based on a misreading of the IMF report, reiterating that there is no evidence that the funds were spent outside the approved budget or without due process.