FG Rejects World Bank Claims of Hidden Spending

The Federal Government of Nigeria, through the Federal Ministry of Finance, has dismissed claims made in a recent World Bank report that suggested hidden spending and revenue diversion. The Ministry, represented by Minister of State for Finance Taiwo Oyeleke, characterized the report's findings as misrepresentations of Nigeria's fiscal structure and revenue distribution processes.

The Ministry clarified that deductions from the federal account are legitimate fiscal flows and not indicative of waste or mismanagement. It highlighted that the World Bank's report acknowledged ongoing reforms, including a new executive order aimed at safeguarding petroleum revenue remittances, which are set to be implemented by early 2026.

The Ministry stressed that the report does not suggest a failure of reforms but rather affirms that ongoing changes are yielding positive results. It urged media organizations and stakeholders to avoid misinterpretation of fiscal data to prevent undermining reform efforts and fueling public discord.