Former Vice President Atiku Abubakar has formally challenged the Nigerian federal government to account for public expenditures that the International Monetary Fund estimates are omitted from official budgets.
The political confrontation centers on IMF findings that suggest approximately 2% of Nigeria’s GDP in public spending is excluded from statutory fiscal records, raising questions about the accuracy of national economic data.
Abubakar, a presidential candidate for the African Democratic Congress, is seeking a formal probe into these discrepancies.
The demand underscores growing scrutiny of fiscal management under President Bola Tinubu’s administration, particularly regarding how off-budget items are handled and reported to international creditors and domestic stakeholders.
The IMF’s identification of significant off-budget expenditures adds a layer of complexity to Nigeria’s macroeconomic outlook.
For investors and traders, the reliability of GDP figures is critical for assessing the country’s growth trajectory and debt sustainability.