Yoruba Union Accuses Tinubu Of ‘Unprecedented Fiscal Impunity,’ Demands Probe Into Alleged ₦8.8 Trillion Unrecorded Federal Expenditure

Ikeja, Lagos State– The Yoruba socio-political group, Ìgbìnmó Májékóbájé Ilé-Yorùbá, has accused President Bola Tinubu’s administration of “unprecedented fiscal impunity,” alleging that the Nigerian government is being run like a private company following reports that about 2% of the country’s Gross Domestic Product (GDP) in public expenditure was not captured in official budget records.

The group made this known in a statement issued on Saturday and signed by its Convener, Olusola Badero, and released through its Home Director, Princess Balogun.

According to the organisation, the alleged ₦8.8 trillion in unrecorded federal expenditure, estimated to represent about 2% of Nigeria’s GDP, raises serious concerns about transparency, accountability and public financial management under the Tinubu administration.

The group cited comments attributed to the International Monetary Fund (IMF) Resident Representative in Nigeria, Christian Ebeke, who reportedly noted that Nigeria has public spending equivalent to about 2% of GDP that was not recorded in recent official budgets, creating a discrepancy between the country’s reported fiscal deficit and its actual financing needs.

Quoting the IMF official, the statement said such expenditures “should be reported and should be recorded so that this statistical discrepancy will disappear.”

Reacting to the reported disclosure, Ìgbìnmó Májékóbájé Ilé-Yorùbá questioned the destination and purpose of the alleged unrecorded expenditure.

“The fiscal impunity under President Bola Tinubu is unprecedented. Nigeria is being run like a private company,” Yoruba Union said.

“How can a country battling one of the highest poverty rates in the world have expenditures that are carried out off-budget? About 2% of GDP in public expenditure was not reported.

“Tinubu is spending money anyhow he likes without proper record or report. According to the IMF, 2% of GDP worth of expenditure was not reported. Where are these funds going? What exactly is Tinubu using these unaccounted funds for?”

Yoruba Union argued that the spending is difficult to justify given Nigeria’s mounting social and economic challenges.

It noted that the country has approximately 18.3 million out-of-school children, while more than 190 million Nigerians — representing roughly 85 to 90 percent of the population — lack formal health insurance.

Ìgbìnmó Májékóbájé Ilé-Yorùbá said that more than 52 percent of Nigerians lack access to affordable and quality healthcare, with about 11 million people facing completely unmet healthcare needs.

“Despite these disturbing realities, the Tinubu administration removed ₦8.8 trillion from federal expenditures without proper records,” the group said.

The Yoruba Union also called on the National Assembly to launch a comprehensive investigation into the reported discrepancy and hold the President accountable if any wrongdoing is established.

While expressing little confidence in the legislature, the organisation said lawmakers owe Nigerians a constitutional duty to investigate the matter in the interest of transparency and posterity.

“We know that those at the National Assembly have become rubber stamps. They have sold their conscience and constitutional responsibility in exchange for political and financial benefits,” they said.

“But for the sake of posterity, they should investigate this disparity and hold President Tinubu accountable for what we consider an unprecedented level of fiscal impunity.”

Yoruba Union warned that continued lack of accountability in public finance could further weaken governance and encourage abuse of public resources.

“Nigeria cannot continue like this. Impunity at the highest level of government encourages corruption and creates an environment where individuals can establish fake agencies and still receive allocations from the national budget.

“There must be transparency, accountability and proper documentation of every kobo of public funds. Nigerians deserve to know how their resources are being spent,” they added.