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The presidential candidate of the Nigeria Democratic Congress (NDC), Mr Peter Obi, has alleged that the administration of President Bola Tinubu is overseeing what he termed “grand corruption,” referencing an alleged ₦8.83 trillion in expenditure identified in the recent International Monetary Fund consultation report.

In a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” shared on his verified X account on Sunday, Obi argued that the reported spending was absent from the 2025 Appropriation Act, maintaining that it was therefore executed outside the scope of legislative oversight and administrative accountability.

He stated that the ₦8.83 trillion amounts to roughly two per cent of Nigeria’s Gross Domestic Product (GDP), exceeds 35 per cent of the 2025 capital budget of ₦23.96 trillion, and is greater than the combined budgetary allocations for the education and health sectors.

According to Obi, if the funds had been properly managed and transparently accounted for, they could have transformed critical sectors such as healthcare and education while also creating employment opportunities through the establishment of cottage industries.

The former Anambra State governor further claimed that the issue was not an isolated occurrence but reflected what he described as a recurring pattern of corruption under the current administration.

He also accused the Federal Government of failing to comply with established public finance management principles, warning that such actions could undermine national security, worsen poverty, and further weaken public institutions.

Obi described the All Progressives Congress (APC)-led administration as “grossly corrupt, incompetent and insensitive,” insisting that the alleged misuse of public resources has contributed to the country’s worsening economic and social conditions.

Reaffirming his previous position, Obi renewed his call for President Tinubu to resign, arguing that recent developments have strengthened his belief that the President should step aside over what he described as incompetence, lack of empathy, and failure to deliver on campaign promises.

“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 N8.83 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.

“N8.83 trillion is as follows:

“About 2% of our GDP.

Over 35% of Nigeria’s 2025 N23.96 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 (N3.52 trillion) and health (N2.38 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.

“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,” part of the statement read.

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