Peter Obi, the presidential candidate of the Nigeria Democratic Congress, has levelled fresh accusations of "grand corruption" against President Bola Tinubu's administration. He cited an International Monetary Fund consultation report that identified alleged unbudgeted spending of N8.83 trillion in 2025.
In a statement posted on his X account on Sunday, Obi argued that this expenditure fell outside the national budget and therefore escaped both legislative oversight and administrative scrutiny. He stressed that the scale of the alleged spending represented a threat to Nigeria's financial management systems.
The former Anambra State governor broke down the figures to highlight their significance. He noted that N8.83 trillion equals roughly two per cent of Nigeria's gross domestic product.
Obi pointed out that the amount surpasses 35 per cent of the country's 2025 capital budget of N23.96 trillion. He added that it actually exceeds the total released capital funding for the year.
The sum also dwarfs the combined education and health budgets, he observed. Nigeria's education allocation stands at N3.52 trillion, while health received N2.38 trillion.
"If such an amount is properly used and accounted for, it could transform Nigeria's public health and education sectors," Obi said. He argued the funds could establish hundreds of cottage industries and create thousands of jobs for graduates.
Obi insisted this wasn't an isolated incident but part of a systematic pattern. He described the APC-led government as "grossly corrupt, incompetent and insensitive" in managing public resources.
According to him, the alleged mismanagement had worsened Nigeria's economic and social crises. He warned that such practices endanger national security, entrench poverty and undermine state institutions.
"The sort of corruption that is ingrained in total disregard of elementary rules of public finance management poses a grave danger to national security and the stability of the Nigerian state," he stated. Obi charged that the government had flouted basic principles governing how public money should be handled.
The NDC candidate reiterated his earlier demand that Tinubu step down from office. He said recent developments had strengthened his conviction that the president should resign.
Obi cited what he called incompetence, lack of compassion and failure to keep campaign promises as reasons the president should go. He argued these failings had become increasingly evident through the administration's financial dealings.
"We have a lot to worry about regarding the state of corruption under President Tinubu," Obi added. His comments reflect growing opposition criticism of the government's handling of public finances since Tinubu took office in May 2023.
