Wetin IMF tok about Nigeria $6 billion spending wey no dey inside budget?

Ogbonge controversy dey go on for di Nigeria govment currently afta di International Monetary Fund (IMF) oga for Nigeria tok say di Bola Tinubu administration don spend about six billion dollars (N8.8 trillion) outside dia approved budget.

Last week, di IMF oga, Christian Ebeke, tok for one event for Lagos say enuf transparency no dey for some govment spendings.

"So far, we tink say e get about two per cent of GDP of expenditure wey no dey reported, and e suppose to be reported and recorded, so dat dis statistical discrepancy go disappear," Ebeke tok.

Di IMF oga tok say dis discrepancy mean say di true-true nature of Nigeria fiscal deficit and dia borrowing requirements dey bigger dan wetin official govment figures dey show.

Howevea, di Nigeria govment don fire back to quickly explain say di IMF get am wrong and say dem no spend any 8.8 trillion naira outside di budget.

Di Minister for Finance and coordinating Minister for di Economy, Taiwo Oyedele, issue long explanation on Sunday wia e try to explain wetin di IMF bin misunderstand as extra-budgetary spending.

Oyedele tok say di remark by di IMF oga dey "incorrect" and e fit mislead di public about di way govment dey take manage dia finances.

"Di Federal Government no dey operate "shadow budget" or spend public funds outside di constitutional and statutory framework established for public finance," Oyedele tok.

Di Finance Minista challenge IMF say dem suppose identify di particular projects wey dem claim say govment bin do outside di budget or witout legal authority, and dem for present credible evidence to support dia claim.

"Assertions of dis magnitude must to dey supported by verifiable facts rather dan conjecture," e tok.

According to Oyedele, difference dey betwin appropriation, expenditure authorisation, financing, and fiscal reporting, and dis mean say e get "several statutory transfers, first-line charges and intervention mechanisms established by Acts of di National Assembly".

"Dis expenditures no dey secret or illegal. Dem dey established by law, disclosed in various fiscal reports, and subject to applicable oversight, audit and accountability mechanisms.

"Dia treatment for reporting purposes fit dey different from dia presentation for di annual Appropriation Act, particularly under international statistical and reporting standards adopted by di Federal Govment.

"Such classification differences no suppose to be misrepresented as evidence of unlawful expenditure," Oyedele explain.

Di Minister conclude by saying di govment of Nigeria go continue to uphold di rule of law and maintain transparency for di management of public resources in line wit international best practices.

Opposition figures knock govment

Howeva, major opposition leaders for di kontri don criticise di govment sake of dis new IMF revelation, as dem tok say na sign of corruption wey dey go for di administration.

Peter Obi, di presidential candidate of di Nigeria Democratic Congress (NDC) for di coming 2027 general election, tok say di moni wey di federal govment allegedly spend without budget, na more dan 35% of di 2025 capital project budge, and e dey higher dan di 2026 education and health budget combined.

"If such amount dey properly used and accounted for, e fit transform Nigeria public health and education sectors. E fit create hundreds of cottage industries wey go provide jobs for thousands of graduates and build solid foundation for economic development.

"This na pattern of grand corruption wey don bicom part of dis administration," Obi tok.

Similarly, former Nigeria Vice president, Abubakar Atiku, rlease statement wia e condemn di Tinubu administration, and describe as "a government wey dey governs for secret (and) spend for secret".

"Di poverty of Nigerian citizens today no be fate, na policy, or more precisely, na di consequence of di absence of transparent, accountable, productive economic policy, replaced by di private management of public resources for political purposes," Atiku tok.

"While dem tell di poor to bleed, di govment maintain access to ₦8.8 trillion shadow treasury, entirely outside public view, entirely beyond legislative oversight, and entirely for di disposal of di pipo wey get executive power."

"We no go accept am, and we call on every Nigerian wey believe in di integrity of di public treasury... and di future of dis republic make dem refuse to accept am as well."

Dis na di second time wey a global finance body go allege say di Nigeria govment no too dey transparent wit dia public spending.

Rememba say in April dis year, di World Bank bin also raise concern about wetin dem describe as "hidden spending system" of di Nigeria govment.

For dia 'Nigeria Development Update' report, di World Bank tok say even though Nigeria revenue generation rise well-well to 84 trillion naira betwin 2023 and 2025, about 41% of di revenue - wey be about N34.5 trillion - no enta di Federation account.

But oga Taiwo Oyedele, di Finance Minister, also provide explanation to wetin e describe as di "twisted interpretation" of di World Bank report.

"Misinterpreting one aspect of di analysis witout acknowledging di progressive reforms and measures already introduced to enhance distributable federation revenues, go give distorted picture," Oyedele write.