FG Denies Claims of Shadow Budget in Public Expenditure

The Federal Government of Nigeria responded to recent claims regarding public expenditure, specifically addressing allegations that approximately 8 trillion naira was spent outside the approved budget, as referenced in an International Monetary Fund (IMF) report. The government clarified that it does not operate a shadow budget and that all public funds are managed according to constitutional provisions outlined in sections 80, 83, and 162 of the 1999 Constitution (as amended).

It emphasized that expenditures are made in accordance with duly enacted appropriation acts and supplementary appropriation acts. The government also noted that capital projects may span multiple budgets but are not executed without legal authorization.

Furthermore, it highlighted that statutory transfers and interventions are established by law and are subject to oversight. The government reaffirmed its commitment to prudent fiscal management and transparency, indicating ongoing reforms to strengthen public financial management and align with international fiscal reporting standards.