Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has launched a fresh attack on President Bola Tinubu’s administration, alleging that an International Monetary Fund (IMF) consultation report uncovered ₦8.83 trillion in government spending that was not included in the 2025 budget.
Obi, in a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” shared on his X account on Sunday, argued that the reported expenditure was outside the approved budget and therefore escaped legislative oversight and administrative scrutiny.
He described the development as evidence of what he called “grand corruption,” saying the amount involved raises serious concerns about transparency and accountability under the current administration.
According to Obi, the ₦8.83 trillion is equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the country’s 2025 capital budget of ₦23.96 trillion, and exceeds the combined allocations to the education and health sectors.
The former Anambra State Governor said that if the money had been properly utilised and accounted for, it could have transformed public healthcare and education, while creating thousands of jobs through the establishment of cottage industries.
He maintained that the alleged unbudgeted expenditure was not an isolated occurrence but part of what he described as a recurring pattern of corruption under the Tinubu administration.
Obi further accused the Federal Government of ignoring basic public finance management principles, warning that such practices could undermine national security, worsen poverty and weaken key state institutions.
Describing the All Progressives Congress (APC)-led government as “grossly corrupt, incompetent and insensitive,” he argued that the alleged mismanagement of public funds had compounded Nigeria’s economic and social problems.
He also renewed his call for President Tinubu to resign, insisting that the latest revelations had strengthened his belief that the President should step down over what he described as incompetence, lack of compassion 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 ₦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.
“₦8.83 trillion is as follows:
“About 2% of our GDP.
“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.
“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 statement read.
