By SUNTV Global Channel
July 4, 2026
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has called for an urgent investigation into what he described as an alleged ₦8.8 trillion “shadow budget” operated by the administration of President Bola Ahmed Tinubu.
In a statement issued on Saturday, Atiku said his concerns were prompted by findings contained in the latest International Monetary Fund (IMF) Article IV Consultation, which reportedly indicated that public expenditures equivalent to about 2% of Nigeria’s Gross Domestic Product (GDP) were not reflected in recent official budget documents.
According to Atiku, with Nigeria’s economy estimated at about ₦441.5 trillion, the unrecorded spending amounts to approximately ₦8.8 trillion, which he alleged was spent outside the country’s statutory budget process.
He described the alleged off-budget spending as one of the most serious cases of fiscal opacity in Nigeria’s recent democratic history and called on the National Assembly, anti-corruption agencies, civil society organisations, the media, and Nigerians to demand accountability.
Atiku further alleged that the reported expenditures were used to fund major government projects outside the normal appropriation process, thereby limiting legislative oversight and public scrutiny.
The former vice president also accused the Federal Government of withholding ₦800 billion from statutory allocations meant for state governments, claiming the combined funds could be used to finance political activities ahead of the 2027 general elections.
He insisted that if the funds had been transparently appropriated, they could have supported economic recovery, strengthened the naira, created jobs, and improved public services across the country.
Atiku consequently demanded immediate actions, including:
- A comprehensive investigation by the National Assembly.
- An independent audit by the Auditor-General of the Federation.
- Public disclosure of all alleged off-budget expenditures.
- Restoration of the reported ₦800 billion deducted from state allocations.
- Investigations by relevant anti-corruption agencies.
- Increased oversight by civil society organisations and development partners.
As of the time of filing this report, the Presidency had not issued an official response to the allegations.
— SUNTV Global Channel
