According to Atiku, with Nigeria's economy valued at about ₦441.5 trillion, the figure translates to "a staggering ₦8.8 trillion in public funds spent entirely outside the statutory framework of Nigeria's official budget documents, unaccounted for, unaudited, and hidden from the Nigerian people."
Former Vice President and the presidential candidate of the African Democratic Congress (ADC) Atiku Abubakar has accused the administration of President Bola Tinubu of operating an alleged ₦8.8 trillion "shadow budget" outside the country's official appropriation process, following findings contained in the latest International Monetary Fund Article IV consultation.
In a statement released on Saturday, Atiku said he was alarmed by a Reuters report published on July 1, 2026, which cited the IMF as stating that public expenditures equivalent to about two per cent of Nigeria's Gross Domestic Product were not captured in recent official budgets.
"My attention has been drawn to a deeply troubling report by the International Monetary Fund, published on July 1, 2026 by Reuters, which reveals that the Tinubu-led APC administration failed to record public expenditures amounting to approximately 2 percent of Nigeria's Gross Domestic Product in recent official budgets," he said.
