Former Vice President Atiku Abubakar has called for an immediate investigation into what he described as about ₦8.8 trillion in alleged off-budget public spending, following findings in the latest International Monetary Fund (IMF) Article IV consultation on Nigeria.
In a statement shared on his verified Facebook page on Saturday, Atiku cited a Reuters report published on July 1, 2026, quoting the IMF, which said public spending equal to about 2 per cent of Nigeria’s Gross Domestic Product (GDP) was not included in recent official budgets.
He said the alleged omission amounts to about ₦8.8 trillion spent outside Nigeria’s legal budget framework.
The former presidential candidate described the development as “the most consequential act of fiscal impunity in Nigeria’s recent democratic history” and urged Nigerians, the media, civil society groups, the National Assembly and other democratic institutions to demand accountability.
Atiku alleged the unrecorded spending came from major government projects carried out outside the approved budget, saying the process avoided legislative oversight, procurement rules and review by the Auditor-General.
He also claimed the alleged practice reflected an off-budget revenue management model once used in Lagos State and had now been repeated at the federal level.
Atiku further alleged that about ₦800 billion was unlawfully deducted from statutory allocations to state governments without constitutional or legislative approval.
According to him, the combined value of the alleged off-budget spending and deductions from state allocations points to the creation of a political war chest ahead of the 2027 general elections.
He linked the allegations to the recent controversy surrounding the Presidential Foreign Intervention Promotion Council (PFIPC), saying both issues showed what he called a pattern of fiscal opacity.
Atiku argued that while Nigerians faced fuel subsidy removal, exchange rate changes and high interest rates, large public funds were allegedly spent outside official budget processes. He said greater fiscal transparency could have supported economic growth, businesses, job creation and economic stability.
“The National Assembly must convene emergency investigative hearings on the IMF’s findings without further delay,” Atiku said.
He also urged the Auditor-General to audit all alleged off-budget spending, asked the Federal Government to publish details of the projects, contractors, procurement processes and approving officials, called on the EFCC, ICPC and other anti-corruption agencies to investigate the allegations, demanded the return of the alleged ₦800 billion deducted from state allocations with a full account of its use, and urged civil society groups, professional bodies, the business community and international development partners to push for greater transparency and accountability in public finance management.
