Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has accused President Bola Tinubu’s administration of overseeing what he described as “grand corruption,” citing an alleged N8.83 trillion in unbudgeted expenditure highlighted in a recent International Monetary Fund (IMF) consultation report.
In a statement titled “Grand Corruption: Nigeria’s Greatest Threat” posted on his X account on Sunday, Obi claimed the expenditure was not captured in the 2025 budget and was therefore outside legislative oversight and administrative scrutiny.
According to Obi, the N8.83 trillion represents about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the 2025 capital budget of N23.96 trillion, and exceeds the combined allocations for education (N3.52 trillion) and health (N2.38 trillion).
He argued that the funds, if properly utilised, could have transformed healthcare, education and job creation through cottage industries. Obi alleged the expenditure reflects a broader pattern of corruption under the APC-led administration, which he described as “grossly corrupt, incompetent and insensitive.”
Reiterating his earlier call for Tinubu to resign, Obi said the IMF report reinforced his position, warning that disregard for public finance management rules threatens national security, deepens poverty and weakens state institutions.
