ABUJA: The International Monetary Fund (IMF) has urged Nigeria to maintain strict discipline in its government spending, as concerns grow over the Tinubu administration’s fiscal practices.
Speaking at the 2025 IMF/World Bank Spring Meetings in Washington, D.C., Davide Furceri, Division Chief in the Fiscal Affairs Department of the IMF, emphasized the importance of prudent financial management.
Nigeria has carried out difficult but necessary reforms to achieve fiscal savings, Furceri noted, according to TheCable. However, spending must be done wisely, with better prioritization and more efficient resource allocation.
This warning comes as the Nigerian government faces backlash for what many see as excessive travel expenditures by top officials.
A SaharaReporters analysis of the 2025 approved budget revealed that President Bola Tinubu is set to spend N6.1 billion on international travel, with an additional N873 million allocated for domestic trips a total of nearly N7 billion. Vice President Kashim Shettima is also projected to spend over N1.7 billion on travel, including N1.314 billion internationally and N417.5 million locally.
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This follows a pattern seen in 2024, where the presidency reportedly spent N83 billion on travel-related expenses, according to data from the Open Treasury Portal. Of this, N36.3 billion was used for international travel, N12.2 billion for training, and N24.19 billion for other purposes. Local travel costs added up to N47 billion, including N15.8 billion for training and N31.2 billion for other domestic transportation needs.
Despite public concern over these figures amid Nigeria’s economic challenge Ministry of Foreign Affairs, Yusuf Maitama Tuggar defended the travel expenses during a recent appearance on Channels TV. Tuggar argued that international trips have brought valuable investments to Nigeria.
Citing a recent visit to Brazil, he claimed President Tinubu secured a $2 million investment in the livestock sector, which could help address the country’s ongoing herder-farmer conflict.
Other countries are competing for these investments, but President Tinubu has delivered for Nigeria, Tuggar said. We should be travelling more. The benefits far outweigh the costs, Nigeria can afford it.
