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 African Democratic Congress presidential candidate argues that approximately 2% of GDP in spending is missing from the state's financial records, a discrepancy he says undermines fiscal accountability.
The claim of a 2% GDP omission is significant for a major emerging market like Nigeria, where fiscal discipline and debt sustainability are closely monitored by international creditors and investors.
The allegation targets the administration of President Bola Tinubu, with Abubakar calling for a transparent review of how public funds are allocated and reported.
The claim of a 2% GDP omission is significant for a major emerging market like Nigeria, where fiscal discipline and debt sustainability are closely monitored by international creditors and investors.
This development adds to ongoing scrutiny of Nigeria's economic management.
The IMF's estimate of omitted expenditures suggests potential gaps in the country's statistical reporting or budget execution, which could affect the accuracy of growth and deficit figures used by policymakers and markets.