* Says alleged N8.83tn expenditure outside 2025 budget shows collapse of accountability
Sunday Aborisade in Abuja
The presidential candidate of the Nigeria Democratic Congress (NDC) in the 2027 election, Peter Obi, on Sunday renewed his call for President Bola Tinubus resignation.
He alleged that the growing revelations of what he described as “grand corruption” under the current administration had made the president’s continued stay in office untenable.
Obi’s latest demand followed concerns he raised over an alleged N8.83 trillion expenditure in the 2025 fiscal year which, according to him, was not reflected in the approved federal budget.
The former Anambra State governor, who spoke in a statement posted on his X handle, said the development reinforced his earlier position that the Tinubu administration had failed in governance, accountability and the welfare of Nigerians.
He said: “The grand corruption being revealed daily in this regime supports why the president should resign.”
According to Obi, the alleged expenditure outside the budget, which he attributed to findings from an International Monetary Fund (IMF) consultation report, represented a grave violation of public finance management principles and raised serious concerns about transparency in government.
Obi said: “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 outside legislative oversight or administrative scrutiny.”
Obi described the figure as alarming, arguing that it represented a significant proportion of Nigeria’s economy and exceeded critical spending allocations.
He said: “This is horrible. N8.83 trillion is approximately two per cent of our GDP and over 35 per cent of Nigeria’s 2025 N23.96 trillion capital project budget. In fact, the amount exceeds the actual capital funding released for 2025.
“It is more than the total combined budget for education (N3.52 trillion) and health (N2.38 trillion).”
The opposition leader argued that prudent deployment of such funds could have transformed key sectors of the economy and improved the lives of millions of Nigerians.
“If such an amount were properly utilised and accounted for, it could transform Nigeria’s health and education sectors.
“It could also foster the creation of hundreds of small industries, creating jobs for thousands of graduates and laying a solid foundation for economic development. But we cannot account for it,” Obi said.
He further alleged that the reported expenditure was not an isolated occurrence but part of what he called a recurring pattern of financial mismanagement.
“This is not an isolated incident; it is part of a pattern of grand corruption that characterises this administration,” he added.
Obi warned that the alleged erosion of due process in public finance posed a threat to national stability, insisting that corruption had become Nigeria’s greatest challenge.
“We have much to worry about concerning the state of corruption under President Tinubu. The type of corruption that involves blatant disregard for fundamental rules of public finance management poses a severe threat to national security and the stability of Nigeria,” he said.
“The capture of the Nigerian state and the plunder of its resources undermine the foundation of state stability, deepen poverty and risk state failure.”
He further accused the administration of failing to channel public resources towards addressing poverty and infrastructure deficits.
“With increasing poverty and an urgent need for major improvements in social and physical infrastructure, a responsible and responsive government would ensure that N8.83 trillion is wisely used to address these issues. But this is not the case with the Tinubu administration,” he said.
Reiterating his earlier position that the president should vacate office, Obi maintained that recent developments had strengthened the case for resignation.
According to him, “A few days ago, I called on President Tinubu to resign from office due to incompetence, lack of capacity, lack of compassion and failure to deliver on his campaign promises.
“Some people thought this call was excessive, but with the daily revelations of widespread 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.”
Obi also called on Nigerians to demand greater accountability from the government through lawful means.
He said: “The breakdown of basic due process under Tinubu and the continuous evidence of rampant looting of Nigerian finances highlight the urgent need for greater accountability.
“It is now time for Nigerian citizens to step up within the law and hold this administration responsible. A new Nigeria is possible.”
