Oyedele Denies N8.83trn Off-Budget Spending Claims

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, refuted claims of N8.83 trillion off-budget spending, stating that there is no secret expenditure outside of budgetary approval. This rebuttal follows a report from the International Monetary Fund (IMF) indicating that the Nigerian government spent approximately two percent of the country's Gross Domestic Product (GDP), translating to N8 trillion, outside of the approved budget.

Oyedele emphasized that the federal government does not operate a shadow budget and that all public funds are expended according to constitutional and statutory frameworks. He addressed concerns raised by political figures, including former Vice President Atiku Abubakar and presidential candidate Peter Obi, who have called for inquiries into the alleged off-budget spending.

Oyedele clarified that expenditures are incurred pursuant to duly enacted appropriations and that any claims of unapproved spending lack credible evidence.