The Federal Government has dismissed claims that over ₦8 trillion was spent outside the 2025 budget, insisting that all public expenditures were made within Nigeria’s constitutional and legal framework.

In a statement issued on Sunday by Taiwo Oyedele, Minister of Finance, the government said reports alleging that about two percent of Nigeria’s Gross Domestic Product, GDP, estimated at over ₦8 trillion, was spent outside the approved budget were based on a misrepresentation of the International Monetary Fund’s, IMF, 2026 Article IV Consultation Report.

The ministry maintained that the Federal Government does not operate a “shadow budget” or spend public funds without legislative approval.

It explained that under Sections 80 to 83 and 162 of the 1999 Constitution, all public funds can only be withdrawn and spent in accordance with the Constitution and laws passed by the National Assembly. According to the ministry, government expenditure is undertaken through duly enacted Appropriation Acts, Supplementary Appropriation Acts and other statutory authorisations.

The ministry added that multi-year capital projects are implemented under existing laws and approved capital rollovers where applicable, stressing that such projects should not be interpreted as spending outside the budget.

It further argued that allegations of secret spending lacked evidence, saying anyone making such claims should identify specific projects allegedly executed without appropriation or legal authority.

“It is inaccurate to suggest that trillions of naira have been secretly spent outside legislative approval. Such allegations should have identified the specific projects purportedly executed without appropriation or legal authority and present credible evidence in support of the claim. To be meaningful, assertions of this magnitude must be supported by verifiable facts rather than conjecture,” Oyedele said.

The ministry also clarified that Nigeria’s public finance system includes statutory transfers, first-line charges and intervention mechanisms established by Acts of the National Assembly. These include statutory allocations to development commissions and agencies, revenue collection costs retained by designated agencies, separate capital budgets for some agencies and the Federal Capital Territory, special interventions for national priorities such as security and infrastructure, as well as debt servicing obligations.

According to the ministry, these expenditures are lawful, publicly disclosed and subject to oversight, audit and accountability mechanisms, although their presentation in fiscal reports may differ from their appearance in the annual Appropriation Act due to international reporting standards.

The government also rejected suggestions that the reported ₦8 trillion represented an increase in the country’s fiscal deficit, explaining that fiscal deficits are determined by the relationship between total government revenue and expenditure rather than the financing mechanism used for approved projects.

It stated that the IMF’s observations were primarily about the comprehensiveness, timing and presentation of fiscal reporting rather than the legality of government spending.

The ministry noted that President Bola Tinubu had already asked the National Assembly to harmonise multiple and overlapping budgets into a single framework while presenting the 2026 Appropriation Bill on December 19, 2025.

It added that the administration remained committed to prudent fiscal management, transparency and accountability, citing ongoing reforms in budget credibility, revenue administration, digitalisation of government financial processes and treasury management.

The statement urged Nigerians to base public debate on verified facts and an accurate understanding of the country’s fiscal framework, warning against misrepresenting technical observations as evidence of unlawful expenditure.

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‎Popular Nigerian music promoter and socialite, Sam Larry, has reportedly been hospitalised following a ghastly road accident along the Lagos-Calabar Coastal Road in Lagos.

‎The crash, which reportedly occurred on Saturday, July 4, involved Sam Larry’s vehicle and a trailer.
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‎According to reports, the impact of the collision claimed the life of his bouncer, who allegedly died at the scene before emergency responders could intervene.
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‎Videos and photographs circulating on social media showed the vehicle extensively damaged, underscoring the severity of the crash.

Reacting to the incident, Nigerian comedian and master of ceremonies, Mario Wazobia, appealed to the public to pray for the music promoter.

‎In an Instagram post on Saturday evening, he wrote, “PRAY FOR SAMMYLARRY.”

Sharing additional photographs from the accident scene, Mario Wazobia said, “More photos from the early morning accident involving socialite Sam Larry and his bouncer. Reports indicate the bouncer tragically lost his life at the scene while Sam Larry has been rushed to the hospital in critical condition.”
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‎It was reports, however, that as of the time of filing this report, neither Sam Larry’s family nor his management had issued an official statement on the accident or his medical condition.

Authorities have also yet to release an official account of the circumstances surrounding the crash.

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A security analyst, Brant Philip, has reported that terrorists captured several Malian soldiers during coordinated attacks on military positions in parts of Mali on Saturday.

Philip, in a series of posts on 𝕏, said the attacks targeted Malian army positions in Aguelhok, Gao, Sevaré, Anefis and Kenioroba.

He said the offensive was carried out by the Jama’at Nasr al-Islam wal Muslimin and the Front de Libération de l’Azawad.

Philip also said there were unverified reports that a Russian Africa Corps Su-24 fighter jet crashed near Gao after it was allegedly hit by anti-aircraft fire close to Anefis.

“Unverified reports that an Su-24 jet of the Russian Africa Corps crashed in Gao after getting hit by AA near Anefis,” he wrote.

“Heavy smoke rising from the Gao Air Base currently,” he added.

The alleged crash had not been independently verified, and there was no official confirmation from Russian or Malian authorities as of the time of filing this report.

According to Philip, the Russian Africa Corps was fighting alongside the Malian military to repel the attacks.

“The Africa Corps reports to be engaged in combat alongside the Malian army to repel the JNIM/FLA offensive against their positions in Gao, Anefis and Aguelhok,” he said.

Philip further claimed that additional Malian soldiers were taken prisoner by the FLA in Anefis.