IMF Warns Nigeria Against Reckless Spending As Tinubu Budgets N6.1Billion For Foreign Trips In 2025
This development comes amid concerns about government expenditure under the Tinubu-led administration.
The International Monetary Fund (IMF) has warned that Nigeria must prioritise discipline in government spending.
Davide Furceri, Division Chief in the Fiscal Affairs Department of the IMF, stated this during the 2025 IMF/World Bank Spring Meetings in Washington, D.C.
Furceri noted that Nigeria has made past fiscal adjustments but stressed the importance of continued discipline in government expenditure, TheCable reports.
“Nigeria managed to do a very difficult reform that was important in delivering fiscal savings,” he said.
“We understand that many countries, including Nigeria, face pressing spending needs. But spending must be done wisely, which means stronger prioritization and greater efficiency in resource allocation,” Furceri added.
This development comes amid concerns about government expenditure under the Tinubu-led administration.
The Nigerian government has been criticised for excessive spending on international travel.
Previously, a review of Nigeria’s 2025 approved budget by SaharaReporters revealed that President Bola Tinubu planned to spend N6.1 billion on international travel in 2025. The budget also includes N873 million for local travel, bringing the total to N7 billion for the year.
Meanwhile, Vice President Kashim Shettima is set to spend N1.314 billion on international travel and an additional N417.488 million on local travel in the same year.
This comes amid growing concerns over the cost of the presidency’s travels, especially in light of Nigeria’s economic challenges and limited revenue.
Previously, SaharaReporters reviewed data from the Open Treasury Portal showing that the Tinubu-led presidency spent N36.3 billion on international travel in 2024. According to the State House expenditure breakdown, N12.2 billion was allocated to “international travel and transport (training),” while N24.19 billion went to “international travel and transport (other).”
Local travel expenses were also significant, with N15.8 billion allocated for “local travel and transport (training)” and N31.2 billion for “local travel and transport (other).” According to the Open Treasury Portal, the combined expenditure for local and international travel amounted to N83 billion.
Amid criticisms of the presidency’s travel expenses, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, defended the trips.
During a recent live broadcast on Channels TV, Tuggar asserted that President Tinubu should undertake even more international travels.
He emphasised the positive outcomes of these trips, noting their benefits to Nigeria’s economy. He cited a visit to Brazil, during which President Tinubu reportedly secured $2 million in investments aimed at developing the livestock sector and addressing issues such as the herders-farmers crisis.
“Other countries are chasing after these investments, but President Tinubu was able to secure them for Nigeria,” he remarked.
Ambassador Tuggar further argued that the benefits outweigh the costs.
“I would rather say we are not travelling enough; we should do more. Nigeria has the money. How much does travelling cost compared to the benefits?” he said.
