Abuja, Dec. 19, 2025 (NAN) – Concerns are mounting over the handling of public finances by President Bola Tinubu’s administration following revelations of conflicting revenue figures in official documents and public statements, at a time when Nigerians are grappling with rising living costs and economic hardship.
Findings by the BudgIT Foundation indicate that the Budget Office of the Federation, under the Ministry of Budget and Economic Planning, has failed to publish full and detailed budget implementation reports, leaving citizens unable to track how public funds are generated and spent.
In the absence of these reports, analysts have relied on data from the Medium-Term Expenditure Framework (MTEF), which paints a troubling picture of the nation’s fiscal position. According to the MTEF, as of July 2025, the Federal Government had generated approximately ₦13.6 trillion in revenue, while total expenditure had surged to ₦20.39 trillion, suggesting a substantial fiscal deficit that must be financed through borrowing or other funding sources.
“This means government spending has far outpaced revenue, raising serious concerns about how the deficit is being financed and the long-term implications for the economy,” BudgIT noted.
However, the controversy deepened after the Minister of Finance publicly disclosed that the Federal Government had raised only ₦10.7 trillion in revenue so far – nearly ₦3 trillion lower than the figure recorded in the MTEF. The discrepancy has triggered questions about the accuracy and consistency of official fiscal data.
“These conflicting numbers raise critical questions,” BudgIT stated. “Why do official government documents and ministerial statements not align? Which figures should Nigerians rely on?”
Civil society group MonITNG described the situation as alarming, insisting that citizens deserve clarity on how public funds are managed. “If ₦20.39 trillion has already been spent, Nigerians deserve to know where the money came from, how much was borrowed, under what terms, and exactly what it was spent on,” the group said. “Without clear answers, citizens are left in the dark while the cost of governance continues to rise.”
Analysts warn that the lack of transparency has far-reaching consequences for ordinary Nigerians. Increased borrowing to cover deficits could lead to higher debt servicing costs, reducing funds available for critical sectors such as healthcare, education, infrastructure, and social welfare. “Borrowing today means heavier debt burdens tomorrow,” BudgIT cautioned. “When spending happens without transparent reporting, accountability weakens and waste thrives.”
The BudgIT Foundation reiterated its long-standing call for timely disclosure, transparency, and consistency in public financial reporting, urging the government to release reconciled and easy-to-understand data on revenue, borrowing, and expenditure. “In a democracy, the budget belongs to the people, not just government officials,” BudgIT emphasised. “Transparency is not a favour; it is a responsibility.”
Echoing this sentiment, MonITNG urged Nigerians to demand accountability from public officials. “Nigerians must ask questions,” the group said. “Clear answers are not optional — they are essential for trust, accountability, and responsible governance.”
Babatunde Akinsola ✔
Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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