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🇳🇬 Nigeria /Economy & Trade

Obi slams Tinubu govt over IMF report on N8.83tn unbudgeted spending

From The Punch · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Peter Obi accuses the Tinubu administration of "grand corruption" based on an IMF report detailing unbudgeted spending.
  • The IMF found approximately ₦8.83 trillion in 2025 expenditures were not included in Nigeria's national budget, raising transparency concerns.
  • Obi calls for President Tinubu's resignation, arguing the unbudgeted funds could transform key sectors if properly managed.

Presidential candidate Peter Obi has sharply criticized the Bola Tinubu administration, labeling its financial practices as "grand corruption" following a recent International Monetary Fund report. The IMF's findings indicate that a staggering ₦8.83 trillion in government spending for 2025 was not reflected in Nigeria's national budget.

The recent report from the IMF consultation further raises concerns about the scale of grand corruption under the Tinubu government.

— Peter ObiOn X, commenting on the IMF's findings regarding Nigeria's public finances.

Obi highlighted the severity of this off-budget expenditure, noting it represents about 2% of Nigeria's Gross Domestic Product. He emphasized that this amount exceeds 35% of the 2025 capital budget and is larger than the combined allocations for the education and health sectors. "If such an amount is properly used and accounted for, it could transform Nigeria’s public health and education sectors," Obi stated, underscoring the potential impact of such mismanagement.

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.

— Peter ObiDetailing the IMF's findings on unbudgeted spending.

The former Anambra State governor asserted that this is not an isolated incident but part of a "pattern of grand corruption" under the current administration. He renewed his call for President Tinubu to resign, citing "daily revelations of pervasive corruption" and a lack of commitment to citizens' welfare and security. Obi urged Nigerians to demand greater accountability from their government.

This is not an isolated incident. This is a pattern of grand corruption that has become part of this administration.

— Peter ObiDescribing the alleged financial mismanagement under the current administration.

The IMF report itself noted that such unreported expenditures complicate fiscal and monetary policy coordination, weaken oversight and transparency, and obscure the true size of Nigeria's fiscal deficit. The Fund confirmed that the Federal Government has begun addressing these issues.

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.

— Peter ObiCalling for President Tinubu's resignation.
DistantNews Editorial

Originally published by The Punch in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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