Former Vice President Atiku Abubakar and the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, have separately called for a comprehensive investigation into an International Monetary Fund (IMF) report indicating that about N8.83 trillion in government spending was executed outside Nigeria's approved 2025 budget.
In separate statements on Monday, the opposition figures described the alleged off-budget expenditure as a serious breach of fiscal discipline and accountability, urging the Federal Government to explain the transactions and subject them to independent scrutiny.
Atiku, referencing the IMF's Article IV consultation report released on July 1, 2026, said the reported spending, estimated at roughly two per cent of Nigeria's Gross Domestic Product (GDP), represented a grave challenge to public financial management.
He alleged that the Tinubu administration had embarked on the execution of multi-trillion naira projects without the oversight of the National Assembly, the Office of the Auditor-General or established procurement procedures.
According to Atiku, such expenditures point to what he described as "a parallel fiscal system" operating outside constitutional checks and balances.
The former vice president further linked the alleged off-budget spending with what he described as the unlawful deduction of N800 billion from state government allocations, claiming both developments raised concerns about the possible creation of a political funding pool ahead of the 2027 general elections.
He called on the National Assembly to immediately open investigative hearings into the IMF's findings and urged the Auditor-General of the Federation to carry out an independent audit of all alleged off-budget expenditures and make the findings public.
Atiku also demanded that the Federal Government publish details of all projects, contractors, procurement processes and officials connected to the reported expenditure, restore the alleged N800 billion deducted from state allocations and direct anti-corruption agencies to conduct independent investigations.
Peter Obi also expressed concern over the IMF report, describing the alleged N8.83 trillion expenditure as evidence of what he termed "grand corruption."
According to Obi, the reported amount exceeds the combined federal allocations to the education and health sectors in the 2025 budget and represents more than 35 per cent of the year's capital expenditure.
He argued that if the funds had been transparently appropriated and properly invested, they could have significantly improved education, healthcare and industrial development while generating employment opportunities.
Obi maintained that the alleged spending reflected deeper weaknesses in Nigeria's public financial management system and accused the All Progressives Congress (APC)-led administration of failing to uphold transparency and accountability.
The former Anambra State governor renewed his criticism of President Bola Tinubu's administration, insisting that the reported findings underscored the need for greater accountability in the management of public funds.
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