OBI RENEWS CALL FOR TINUBU’S RESIGNATION OVER ALLEGED FISCAL MISMANAGEMENT
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By: Fasasi Hammad
Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has accused the administration of President Bola Tinubu of overseeing what he termed “grand corruption,” citing an alleged N8.83 trillion in unbudgeted spending referenced in a recent consultation report by the International Monetary Fund.
In a statement titled “Grand Corruption: Nigeria’s Greatest Threat” shared on his X account on Sunday, Obi argued that the reported expenditure was not included in the 2025 budget and therefore fell outside the scope of legislative oversight and administrative accountability.
According to the former Anambra State governor, the N8.83 trillion represents about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the country’s N23.96 trillion capital budget for 2025, and exceeds the combined allocations to the education and health sectors.
Obi maintained that if the funds had been properly managed and accounted for, they could have significantly improved healthcare and education services while supporting job creation through the development of cottage industries.
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He contended that the alleged expenditure was not an isolated occurrence but part of a broader trend of financial mismanagement under the current administration.
The former governor also accused the government of flouting basic public finance management principles, warning that such actions could undermine national security, worsen poverty and weaken public institutions.
Describing the All Progressives Congress (APC)-led government as corrupt, ineffective and lacking empathy, Obi said the alleged misuse of public resources had contributed to Nigeria’s growing economic and social challenges.
Reaffirming his previous call for President Tinubu to resign, Obi said the latest revelations had strengthened his belief that the President should step aside over what he described as incompetence, insensitivity and failure to deliver on campaign promises.
Obi stated that the IMF report had raised fresh concerns about the scale of corruption within the current administration, noting that the N8.83 trillion expenditure was reportedly absent from the 2025 budget and therefore beyond legislative scrutiny.
He stressed that the amount exceeds the combined budgets of the education and health sectors and could have been used to drive meaningful development across critical areas of the economy.
According to him, the alleged spending reflects a pattern of systemic corruption that has become entrenched in government and poses a serious threat to Nigeria’s stability, security and long-term development.
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