Nigeria Democratic Congress, NDC presidential candidate for the 2027 election, Peter Obi, has renewed his call for President Bola Ahmed Tinubu to resign, alleging that a recent International Monetary Fund (IMF) consultation report exposed what he described as “grand corruption” and a breakdown of public financial accountability under the current administration.
In a statement posted on his official X account on Sunday, Obi claimed that the IMF report revealed that about ₦8.83 trillion spent by the Federal Government in 2025 was not captured in the national budget, arguing that such expenditure was beyond legislative oversight and administrative scrutiny.
Describing the development as alarming, the former Anambra State governor said the reported off-budget expenditure represented a serious threat to Nigeria’s economy and democratic accountability.
“The recent report from the IMF consultation further raises concerns about the scale of grand corruption under the Tinubu government. 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 stated.
Highlighting the scale of the figure, he noted that the amount represented about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the country’s 2025 capital budget and exceeded the combined allocations to the education and health sectors.
According to him, the funds, if properly managed, could have transformed critical sectors of the economy.
“₦8.83 trillion is about 2% of our GDP. It is over 35% of Nigeria’s 2025 ₦23.96 trillion capital project budget. In fact, the amount is more than the actual released capital funding for 2025.
“It is more than the entire combined budget for education (₦3.52 trillion) and health (₦2.38 trillion).
“If such an amount is properly used and accounted for, it could transform Nigeria’s public health and education sectors. It could create hundreds of cottage industries that can provide jobs for thousands of graduates and build a solid foundation for economic development. But we cannot account for it. This is not an isolated incident,” he said.
Obi alleged that the reported expenditure reflected what he described as a recurring pattern of financial mismanagement under the Tinubu administration.
“This is a pattern of grand corruption that has become part of this administration.
“We have a lot to worry about regarding the state of corruption under President Tinubu. 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. The capture of the Nigerian state and the plunder of its resources are actions that undermine the basis of state stability and deepen poverty and state failure,” he said.
The former presidential candidate further accused the All Progressives Congress (APC)-led government of failing to deploy public resources to address worsening poverty, unemployment and infrastructure deficits.
“This recent revelation proves that the APC government is grossly corrupt, incompetent, and insensitive. With the growing poverty and the urgent need for significant upgrades to social and physical infrastructure, a responsible and responsive government would ensure that ₦8.83 trillion is prudently utilised to address these gaps. But not the Tinubu administration,” he stated.
Reiterating an earlier demand for the President to step aside, Obi maintained that recent developments had strengthened his position.
“A few days ago, I called on President Tinubu to resign from office for incompetence, lack of capacity, lack of compassion, and failure to improve on his campaign promises. Some people thought perhaps the call was excessive.
“But with the daily revelations of pervasive corruption in this administration and its total lack of commitment to the welfare and security of Nigerian citizens, the only reasonable action is for President Tinubu to resign from office.
“The collapse of elementary forms of due process under Tinubu and the increased evidence of rampant looting of Nigerian public finances reinforce the need for greater accountability. It is now time for Nigerian citizens to rise within the law and hold this administration to account,” Obi added.
