FG omitted N8.8trn spending worth 2% of GDP from recent budgets — IMF

By Yinka Kolawole, with agency report
The International Monetary Fund (IMF) has disclosed that the Federal Government (FG) failed to capture public expenditure equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP) in recent national budgets, creating a mismatch between the country’s reported fiscal deficit and its actual financing needs.
IMF’s Resident Representative in Nigeria, Christian Ebeke, made the disclosure on Wednesday during a meeting with business executives in Lagos.
Vanguard Newspaper’s findings indicate that in 2025, Nigeria’s nominal GDP was N441.5 trillion. Government expenditure accounted for approximately 11.73% of this GDP. However, an additio...