Mr. Peter Obi, the presidential candidate for the Labour Party in the 2023 elections, has expressed serious worries about what he calls major corruption in President Bola Ahmed Tinubu’s administration. His concerns follow new findings from the International Monetary Fund (IMF) regarding Nigeria’s finances.

In a statement released on Sunday, Obi mentioned an IMF report that claims around N8.83 trillion spent in 2025 did not appear in the approved national budget.

He pointed out that this spending was neither planned nor reviewed by lawmakers or administrators, which he finds very troubling.

“The latest report from the IMF raises serious questions about the level of grand corruption under the Tinubu government. The IMF shows that nearly N8.83 trillion spent in 2025 is missing from the budget. This spending wasn’t included in any budget and thus lacks oversight from legislators or administrative checks. This is unacceptable,” Obi stated.

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He noted that this amount is roughly 2 percent of Nigeria’s Gross Domestic Product (GDP) and equals more than 35 percent of Nigeria’s capital expenditure budget of N23.96 trillion for 2025. He also asserted that this figure surpasses the total funding allocated to both education and health sectors, which are N3.52 trillion and N2.38 trillion respectively.

Obi argued that if the funds are used wisely and managed openly, they could greatly enhance public healthcare, education, and job creation by investing in small-scale industries.

“This isn’t just a one-time issue. It’s a trend of major corruption that has become part of this government,” he claimed.

The former governor of Anambra State also voiced his worries about what he sees as the decline of proper procedures in managing public finances. He cautioned that such actions could harm national stability, increase poverty, and weaken public institutions.

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He accused the All Progressives Congress (APC)-led Federal Government of being corrupt, incompetent, and indifferent to the needs of Nigerians. He insisted that the administration has failed to use available resources to tackle the country’s development problems.

Obi reiterated his previous demand for President Tinubu to step down, citing incompetence, lack of ability, and failure to keep campaign promises as reasons.

“A few days ago, I urged President Tinubu to resign due to incompetence, lack of capability, lack of compassion, and failure to deliver on campaign promises. Some people thought my call was too much. But with daily news about widespread corruption in this government and its complete disregard for the welfare and safety of Nigerian citizens, the only sensible action is for President Tinubu to resign,” he said.

He urged Nigerians to lawfully ask for more accountability from the Federal Government, stating that recent events highlight the need for transparency in how public resources are managed.