Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has renewed his call for President Bola Tinubu to resign, accusing the Federal Government of presiding over what he described as “grand corruption” following allegations of ₦8.83 trillion in unbudgeted expenditure.
In a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” posted on his X account on Sunday, Obi alleged that the ₦8.83 trillion expenditure, referenced in a recent International Monetary Fund (IMF) consultation report, was not captured in the 2025 national budget and was therefore outside legislative oversight and administrative scrutiny.
According to the former Anambra State governor, the amount represents about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the country’s ₦23.96 trillion 2025 capital budget, and exceeds the combined allocations for the education and health sectors.
Obi argued that, if properly managed, the funds could have transformed Nigeria’s public healthcare and education systems, created thousands of jobs through cottage industries, and accelerated economic development.
He maintained that the alleged spending was not an isolated incident but part of what he described as a recurring pattern of corruption under the current administration.
“The IMF now reveals that about ₦8.83 trillion in expenditure undertaken in 2025 is not reflected in the budget. This expenditure is not budgeted and is therefore not under legislative oversight or administrative scrutiny. This is horrible,” Obi said.
He further stated that the figure is larger than the combined federal allocations for education (₦3.52 trillion) and health (₦2.38 trillion), describing the situation as deeply troubling.
The former governor also accused the All Progressives Congress (APC)-led administration of disregarding basic public finance management principles, warning that such practices could undermine national security, worsen poverty and weaken public institutions.
Describing the Tinubu administration as “grossly corrupt, incompetent and insensitive,” Obi insisted that recent developments had strengthened his earlier position that the President should resign over what he called incompetence, lack of compassion and failure to deliver on campaign promises.
He concluded that unchecked corruption and poor fiscal accountability pose a serious threat to Nigeria’s stability, urging greater transparency and accountability in the management of public funds.
