On May 4, 2025, Nigeria’s Federal Ministry of Finance issued a statement denying allegations of awarding irregular contracts worth ₦13 billion, describing the claims as baseless and misleading. The accusations, which surfaced in a petition to the National Assembly, alleged that the ministry violated procurement laws by approving contracts without due process, competitive bidding, or approval from the Federal Executive Council (FEC).
The ministry, led by Minister Wale Edun, clarified that all contracts under its purview adhere strictly to the Public Procurement Act of 2007 and are subject to rigorous oversight by the Bureau of Public Procurement (BPP).
The disputed contracts reportedly involved infrastructure projects and consultancy services, with critics claiming favoritism and inflated costs. The ministry countered that the projects in question were either nonexistent or part of routine budgetary allocations vetted by the BPP and audited by the Office of the Auditor-General.
It highlighted recent reforms, including the adoption of e-procurement systems, to enhance transparency and reduce corruption risks. The ministry also noted that its 2025 budget, approved at ₦2.3 trillion, prioritizes debt servicing, capital projects, and social programs, with no evidence of unauthorized spending.
The denial comes amid heightened scrutiny of public spending under President Bola Tinubu’s administration, which has faced criticism for rising national debt, now at ₦134 trillion. The ministry has called for an investigation into the source of the allegations, suggesting they may be politically motivated to undermine ongoing economic reforms, such as subsidy removal and tax harmonization.
The National Assembly’s Public Accounts Committee is expected to probe the claims, but no evidence has been made public to substantiate the ₦13 billion figure. The ministry reaffirmed its commitment to fiscal discipline, urging stakeholders to verify information before amplifying unverified allegations.