Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has accused the administration of President Bola Tinubu of overseeing what he described as "grand corruption," citing an alleged ₦8.83 trillion in unbudgeted expenditure referenced in a recent International Monetary Fund (IMF) consultation report.
In a statement shared on his X account on Sunday and titled *Grand Corruption: Nigeria's Greatest Threat*, Obi claimed the expenditure was not captured in the 2025 federal budget, arguing that it fell outside legislative oversight and administrative scrutiny.
According to Obi, the ₦8.83 trillion represents about two per cent of Nigeria's Gross Domestic Product (GDP), more than 35 per cent of the 2025 capital budget of ₦23.96 trillion, and exceeds the combined allocations to the education and health sectors.
He argued that, if properly managed, the funds could have been used to improve public healthcare and education, support the establishment of cottage industries, and create employment opportunities.
Obi further alleged that the reported expenditure reflects a broader pattern of financial mismanagement under the current administration. He accused the government of disregarding public finance management rules, warning that such practices could undermine national security, deepen poverty, and weaken public institutions.
The former Anambra State governor also renewed his call for President Tinubu to resign, maintaining that the administration had failed to meet public expectations and campaign promises.
Among the claims in his statement, Obi said the alleged unbudgeted expenditure amounted to about two per cent of Nigeria's GDP, exceeded the combined federal allocations for education and health, and was larger than the actual capital funding released for 2025.
As of the time of filing this report, the Presidency had not responded publicly to Obi's allegations, while the IMF report he referenced has not been officially addressed by the Federal Government.
