By Henry Obetta

The Allied People’s Movement, APM, in Lagos State has stated that Nigerians deserve full disclosure and accountability on public funds following a recent report from the International Monetary Fund, IMF, article IV consultation.

According to the IMF, government expenditures estimated at about 2 percent, approximately N8.8 trillion in public spending outside the budgetary framework of Nigeria’s Gross Domestic Product were not reflected in the country’s official budget.

The APM, in a statement by its Public Secretary, Mr Ayodele Kazeem, stated that public funds must be properly managed and accounted for as it belonged to the people.

The statement reads: “This is a matter that should concern every Nigerian. Public funds belong to the people and must be managed in accordance with the Constitution, subject to legislative approval, independent audit, and public scrutiny. Any expenditure outside these established processes raises legitimate questions that demand clear and convincing answers.

“The reported off-budget spending, if left unexplained, undermines transparency, weakens public confidence in government, and creates room for abuse of public resources. At a time when Nigerians continue to endure severe economic hardship, high inflation, rising unemployment, and declining purchasing power, accountability in the management of public funds is not optional—it is a constitutional obligation.

“The allegations regarding deductions from the statutory allocations of state governments further reinforce the need for openness. Nigerians deserve to know the legal basis for such deductions, the amount involved, and the specific purposes for which the funds were used.”

The party further called for a comprehensive investigation by the National Assmebly on the issues raised by the IMF report and an independent audit of all alleged off-budget expenditures by the Auditor-General of the Federation with findings published.

They further stated that “The Federal Government should provide a detailed account of every project executed outside the approved budget, including the procurement process, contractors involved, and sources of funding.
“Any deductions from state allocations should be fully explained, and where found to be unlawful, the affected states should be reimbursed. Relevant anti-corruption agencies should carry out impartial investigations wherever evidence of financial misconduct exists.” They added