Anietie Udobit, Abuja
ABUJA — Nigeria’s public finance management has once again come under intense public scrutiny following fresh allegations from opposition leaders and civic organizations over government spending, budget transparency and accountability.
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Former Vice President Atiku Abubakar has called on the Federal Government to provide detailed explanations regarding economic figures and public expenditure, arguing that Nigerians deserve greater transparency as the country grapples with inflation, unemployment and declining purchasing power.
His comments came as civic technology organisation BudgIT raised fresh concerns over allocations contained in the 2026 Appropriation Act, alleging that approximately ₦1.3 billion was earmarked for what it described as a potentially questionable presidential agency whose legal status and operational existence require clarification.
BudgIT urged anti-corruption agencies, including the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), to investigate the allocation, stressing that public funds must only be appropriated to legally established institutions.
The renewed debate has revived longstanding concerns over “budget padding,” duplication of projects, ghost agencies and opaque government expenditures.
Fiscal transparency advocates say Nigeria cannot afford wastage at a time when debt servicing continues to consume a significant share of government revenue.
Economists argue that restoring investor confidence depends not only on macroeconomic reforms but also on strengthening accountability institutions and ensuring citizens can track how public resources are spent.
Government officials have consistently defended ongoing fiscal reforms, insisting that measures such as subsidy removal, tax restructuring and revenue expansion are necessary to stabilize the economy.
Analysts, however, believe that transparency will remain central to sustaining public confidence in those reforms.
As Nigeria prepares for another election cycle, questions surrounding fiscal accountability are expected to become one of the defining issues in national political debates.