Presidential candidate of the Nigeria Democratic Congress, NDC, Mr Peter Obi, has accused the administration of President Bola Tinubu of presiding over what he described as “grand corruption,” citing an alleged N8.83 trillion in unbudgeted expenditure highlighted in a recent International Monetary Fund consultation report.
In a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” posted on his X account on Sunday, Obi claimed the reported expenditure was not captured in the 2025 budget, arguing that it was therefore outside legislative oversight and administrative scrutiny.
According to him, the N8.83 trillion represents about two per cent of Nigeria’s Gross Domestic Product (GDP), more than 35 per cent of the country’s 2025 capital budget of N23.96 trillion, and exceeds the combined allocations for education and health.
Obi said the funds, if properly utilised and accounted for, could have significantly improved public healthcare, education and job creation through the establishment of cottage industries.
He alleged that the development was not an isolated case but part of a broader pattern of corruption under the current administration.
The former Anambra State governor further accused the government of disregarding public finance management rules, warning that such practices threaten national security, deepen poverty and weaken state institutions.
Describing the All Progressives Congress (APC)-led administration as “grossly corrupt, incompetent and insensitive,” Obi argued that the alleged mismanagement of public resources had worsened the country’s economic and social challenges.
Reiterating an earlier call for Tinubu to resign, Obi said recent developments had reinforced his position that the President should step
