By Shamsiyya Mohammed Hassan
The International Monetary Fund (IMF) has urged Nigeria to exercise fiscal restraint, warning against unchecked government spending.
The caution came during the 2025 IMF/World Bank Spring Meetings in Washington, D.C., where Davide Furceri, Division Chief in the IMF’s Fiscal Affairs Department, stressed the need for disciplined expenditure.
“Nigeria managed to do a very difficult reform that was important in delivering fiscal savings,” Furceri acknowledged. “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.”
The IMF’s warning follows scrutiny of Nigeria’s 2025 budget, which allocates N6.1 billion for President Bola Tinubu’s international travel—part of a N7 billion total travel budget when including N873 million for local trips. Vice President Kashim Shettima’s office also plans to spend N1.314 billion on foreign travel and N417.488 million on domestic trips.
Critics have questioned the administration’s spending priorities, particularly as Nigeria grapples with economic strain.
Last year, Tinubu’s presidency reportedly spent N36.3 billion on international travel alone, with total travel expenses—local and foreign—reaching N83 billion, according to Open Treasury Portal data.
Despite the backlash, Foreign Affairs Minister Yusuf Maitama Tuggar defended the trips, arguing they yield economic gains. He pointed to Tinubu’s visit to Brazil, which allegedly secured a $2 million investment for Nigeria’s livestock sector.
“Other countries are chasing after these investments, but President Tinubu was able to secure them for Nigeria,” Tuggar said during a Channels TV interview.
Dismissing cost concerns, he added, “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?”
The debate continues as Nigeria balances fiscal prudence with diplomatic ambitions—amid rising public skepticism over the true cost of presidential globetrotting.
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