The presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election, Peter Obi, has renewed his call for the resignation of President Bola Ahmed Tinubu, alleging that corruption under the current administration has reached an unprecedented level.
The latest call marks the second time in less than two weeks that Obi has asked the President to step down from office. His earlier demand was premised on what he described as the government’s failure to address Nigeria’s worsening economic conditions, rising poverty, and declining living standards.
However, in a statement issued on Sunday by the spokesman of Peter Obi Media Reach (POMR), Idris Ekeri Jnr, the former Anambra State governor anchored his renewed demand on what he described as alarming revelations concerning public finances and governance under the Tinubu administration.
Obi cited a recent report by the International Monetary Fund (IMF), which he said raised concerns over about N8.83 trillion in government expenditure allegedly not reflected in the 2025 federal budget.
According to him, the development points to a pattern of grand corruption and a breakdown in fiscal accountability.
“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 outside legislative oversight or administrative scrutiny,” Obi stated.
Describing the situation as disturbing, he argued that the amount involved represents a significant portion of the nation’s economic resources.
“This is horrible. N8.83 trillion is approximately two per cent of our GDP and over 35 per cent of Nigeria’s 2025 capital expenditure budget. In fact, the amount exceeds the actual capital funding released for the year. It is more than the combined federal allocations to education and health,” he said.
Obi maintained that if properly deployed, the funds could have transformed critical sectors of the economy, improved social services, and generated employment opportunities for thousands of Nigerians.
“If such an amount were properly utilised and accounted for, it could transform Nigeria’s health and education sectors. It could also foster the creation of hundreds of small industries, creating jobs for thousands of graduates and laying a solid foundation for economic development. But we cannot account for it,” he added.
The former governor alleged that the reported expenditure was not an isolated occurrence but part of a broader pattern of financial mismanagement and lack of transparency.
According to him, “grand corruption has become Nigeria’s greatest threat,” warning that the erosion of public finance management standards could undermine national security and economic stability.
“We have much to worry about concerning the state of corruption under President Tinubu. The type of corruption that involves blatant disregard for fundamental rules of public finance management poses a severe threat to national security and the stability of Nigeria.
“The capture of the Nigerian state and the plunder of its resources undermine the foundation of state stability, deepen poverty and increase the risk of state failure,” he said.
Obi further accused the ruling All Progressives Congress (APC) of failing to demonstrate sensitivity to the plight of ordinary Nigerians despite growing economic hardship across the country.
He argued that a responsible government would ensure that available resources are deployed towards addressing pressing challenges in infrastructure, education, healthcare, and job creation.
“A few days ago, I called on President Tinubu to resign from office due to incompetence, lack of capacity, lack of compassion and failure to deliver on his campaign promises.
“Some people thought this call was excessive, but with the daily revelations of widespread 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,” Obi stated.
He also called on Nigerians to demand greater accountability from public officials through lawful and democratic means.
“It is now time for Nigerian citizens to step up within the law and hold this administration responsible. A new Nigeria is possible,” he said.
