The presidential candidate of the Nigeria Democratic Congress (NDC), Mr. Peter Obi, has leveled severe accusations of “grand corruption” against President Bola Tinubu’s administration. Obi’s allegations stem from a recent International Monetary Fund (IMF) consultation report, which reportedly highlights a staggering N8.83 trillion in unbudgeted government expenditure.
In a detailed statement titled “Grand Corruption: Nigeria’s Greatest Threat” shared via his official X account, the former Anambra State governor argued that this massive spending was entirely excluded from the 2025 budget. Consequently, he stated, the funds were spent completely outside of legislative oversight and administrative scrutiny.
Breaking Down the N8.83 Trillion Discrepancy
To put the unbudgeted sum into perspective, Obi highlighted how these funds dwarf critical national allocations. He pointed out that the N8.83 trillion figure represents:
- Approximately two percent of Nigeria’s total Gross Domestic Product (GDP).
- More than 35 percent of the country’s N23.96 trillion capital budget for 2025.
- An amount exceeding the combined national budgets for education (N3.52 trillion) and healthcare (N2.38 trillion).
Obi lamented that if these resources had been systematically directed and accounted for, they could have revolutionized Nigeria’s public infrastructure. He noted that the funds could have revitalized the healthcare and education sectors, while establishing numerous cottage industries to generate thousands of jobs for unemployed graduates.
A Call for Accountability and Resignation
According to the NDC leader, this development is not an isolated administrative error but rather reflective of a deeply systemic pattern of corruption within the All Progressives Congress (APC)-led government. He accused the administration of routinely bypassing public finance management guidelines, warning that such reckless practices jeopardize national security, exacerbate poverty, and degrade state institutions.
Labeling the current government “grossly corrupt, incompetent, and insensitive,” Obi reiterated his previous demands for President Tinubu to step down. He asserted that the latest IMF revelations validate his stance that the President is unfit to lead, pointing to a lack of empathy, executive incompetence, and a failure to deliver on key campaign pledges.