Peter Obi, the Labour Party presidential candidate in the 2023 elections, has renewed his call for President Bola Tinubu to resign from office. This follows a recent report by the International Monetary Fund (IMF) indicating that N8.83 trillion in expenditure undertaken in 2025 is not reflected in the national budget.
IMF Report Alleges Massive Unbudgeted Spending
In a statement released on Monday, Obi described the IMF's revelation as "horrible," stressing that the funds were spent without any legislative approval. He characterized the government's actions as a "pattern of grand corruption that has become part of this administration."
According to Obi, the N8.83 trillion represents approximately 2% of Nigeria's GDP, over 35% of the N23.96 trillion capital project budget for 2025, and exceeds the combined budgets for education (N3.52 trillion) and health (N2.38 trillion). He argued that if properly utilized, this amount could transform Nigeria's public health and education sectors, create hundreds of cottage industries, and generate thousands of jobs for graduates.
Obi Labels Spending as 'Grand Corruption'
Obi wrote: "Grand Corruption: Nigeria’s Greatest Threat. 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."
He added: "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."
Call for Tinubu's Resignation
Obi argued that the APC government is "grossly corrupt, incompetent, and insensitive." He reiterated his earlier call for Tinubu to resign, stating that the collapse of due process and evidence of rampant looting of public finances reinforce the need for accountability. "It is now time for Nigerian citizens to rise within the law and hold this administration to account," he concluded.
