Former Labour Party presidential candidate, Peter Obi, on Sunday renewed his call for President Bola Tinubu to resign, alleging that revelations of N8.83 trillion in off-budget expenditure expose what he described as a pattern of “grand corruption” that threatens Nigeria’s economy and democratic institutions.
Obi, in a statement titled “Grand Corruption: Nigeria’s Greatest Threat,” cited the International Monetary Fund’s (IMF) latest Article IV consultation report, claiming it showed that about N8.83 trillion spent by the Federal Government in 2025 was not captured in the national budget and therefore escaped legislative oversight and administrative scrutiny.
He argued that the alleged expenditure reinforces his earlier position that the Tinubu administration has failed to uphold transparency, accountability and prudent management of public resources.
“A few days ago, I called on President Tinubu to resign from office for incompetence, lack of capacity, lack of compassion and failure to improve on his campaign promises. Some people thought perhaps the call was excessive. But with the daily revelations of pervasive 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 from office,” Obi said.
The former Anambra State governor described the alleged off-budget spending as “horrible,” saying it represents one of the most serious breaches of public financial accountability in recent years.
According to him, the N8.83 trillion amounts to about 2 per cent of Nigeria’s Gross Domestic Product (GDP), exceeds 35 per cent of the country’s N23.96 trillion capital budget for 2025, and is higher than the combined federal allocations to the education and health sectors.
“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 stated.
Obi argued that, if transparently managed, the funds could have transformed the education and healthcare sectors, financed critical infrastructure, created jobs and eased the economic hardship facing millions of Nigerians.
Instead, he alleged that the development points to a deeper culture of fiscal impunity.
“This is not an isolated incident. This is a pattern of grand corruption that has become part of this administration,” he said.
He further alleged that the scale of the reported expenditure demonstrates a disregard for established principles of public finance management and accountability.
“The capture of the Nigerian state and the plunder of its resources are actions that undermine the basis of state stability and deepen poverty and state failure,” Obi said.
The former presidential candidate accused the All Progressives Congress (APC)-led administration of being “grossly corrupt, incompetent and insensitive,” arguing that the government had failed to deploy available resources to tackle poverty, insecurity and the country’s infrastructure deficit.
He urged Nigerians to demand accountability through constitutional and democratic means.
“It is now time for Nigerian citizens to rise within the law and hold this administration to account,” he said.
The Presidency had not responded to Obi’s allegations at the time this report was filed.