Nigeria Democratic Congress (NDC) presidential candidate Peter Obi accused the President Bola Tinubu administration of “grand corruption,” citing N8.83 trillion in unbudgeted spending that a recent International Monetary Fund consultation report highlighted.
In a statement titled “Grand Corruption: Nigeria’s Greatest Threat” shared via his verified X account on Sunday, Obi claimed the 2025 budget did not capture the reported expenditure, adding that the spending bypassed legislative oversight and administrative scrutiny.
He further claims that the N8.83 trillion is more than 35% of Nigeria’s 2025 capital budget of N23.96 trillion, roughly 2% of the country’s GDP, and more than the combined amounts allotted for health and education.
Obi maintained that, if managed and accounted for properly, these funds would have significantly advanced public healthcare, education, and job creation via cottage industry development. He further asserted that this spending represents a systematic pattern of corruption under the current administration rather than an isolated incident.
The former governor of Anambra State also accused the administration of breaking public financial management regulations, cautioning that such actions endanger national security, exacerbate poverty, and erode state institutions.
Describing the All Progressives Congress (APC)-led administration as “grossly corrupt, incompetent and insensitive,” Obi argued that the alleged mismanagement of public resources had worsened the country’s economic and social challenges.
Atiku asks EFCC, ICPC to probe IMF’s claim
Similarly, the African Democratic Congress presidential candidate, Atiku Abubakar has called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to probe the allegation that Nigeria omitted public spending worth 2 percent of gross domestic production (GDP) from recent budgets.
With Nigeria’s economy currently valued at roughly N441.5 trillion, Atiku asserted in a statement on Saturday that this 2 percent discrepancy represents N8.8 trillion in public funds that the administration squandered without legislative approval, audits, or public accountability.
In addition, he alleged that the Bola Tinubu administration is replicating the “Lagos playbook” at the national level.
‘Follow Starmer’s Example’ — Peter Obi Tells Tinubu to Step Down
Meanwhile, Peter Obi’s recent statement comes less than two weeks after he urged President Tinubu to resign over “monumental failure” in governance.
Furthermore, Peter Obi said that hearing British Prime Minister Keir Starmer announce his resignation and cite public anger over economic hardship and broken campaign promises inspired him to reflect on political accountability.
According to the former Anambra governor, Nigeria’s current situation mirrors the criticism President Bola Ahmed Tinubu once levelled against former President Goodluck Jonathan before the 2015 elections.
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