FG Responds to Atiku's N8trn Spending Allegations

The Federal Government of Nigeria, through Minister of Finance Taiwo Oyeleke, addressed allegations made by former Vice President Atiku Abubakar concerning N8 trillion spent outside the approved budget. Oyeleke stated that the claim, which represents two percent of the country's Gross Domestic Product (GDP), is false and misleading.

He emphasized that the government operates within constitutional and statutory frameworks, specifically referencing sections 80, 83, and 162 of the 1999 Constitution of Nigeria. Oyeleke clarified that public funds are withdrawn and spent according to laws enacted by the National Assembly and that there is no "shadow budget." He dismissed the notion that N8 trillion was secretly spent without legislative approval, asserting that such claims lack credible evidence.

The Minister also noted that the government's fiscal management aligns with international standards and that ongoing reforms aim to enhance public financial management. President Bola Tinubu has requested the National Assembly to adopt a single harmonized budget framework instead of multiple overlapping budgets.