Presidential candidate Peter Obi has accused the Bola Tinubu administration of “grand corruption” after an International Monetary Fund (IMF) report revealed that N8.83 trillion in expenditure incurred during 2025 was not captured in the national budget.
In a statement posted on his X account on Sunday, the Nigeria Democratic Congress (NDC) flag-bearer condemned the unbudgeted spending as having taken place without legislative oversight or administrative scrutiny, citing the IMF’s consultation report on Nigeria.
“The IMF now reveals that approximately N8.83 trillion in expenditure undertaken in 2025 is not reflected in the budget. This expenditure is not appropriated and is therefore outside legislative oversight or administrative scrutiny. This is alarming,” Obi said.
“The recent report from the IMF consultation further deepens concerns about the scale of grand corruption under the Tinubu government.”
Obi noted that the N8.83 trillion represents about two per cent of Nigeria’s GDP and exceeds 35 per cent of the N23.96 trillion capital expenditure budget for 2025. He added that the figure surpasses the combined allocations to education and health in the same budget, arguing that such funds could have been deployed to improve public services, create jobs, and stimulate economic growth.
The former Anambra State governor described the development as symptomatic of systemic financial mismanagement and a failure to uphold fundamental principles of public financial accountability. He warned that such practices risk further destabilising the economy and exacerbating poverty, characterising the administration as “grossly corrupt, incompetent and insensitive.”
Obi renewed his call for President Tinubu to resign, citing alleged incompetence, unfulfilled campaign pledges, and a perceived lack of commitment to the welfare and security of Nigerians.
He urged citizens to hold the government accountable through lawful and democratic means.