Peter Obi Alleges ₦8.83 Trillion in Off-Budget Spending, Renews Call for Tinubu to Step Down

Peter Obi Questions Fiscal Transparency Following IMF Consultation Report

Former Labour Party presidential candidate Peter Obi has intensified his criticism of President Bola Ahmed Tinubu’s administration, alleging that Nigeria is facing a deepening crisis of public finance management after citing findings from a recent International Monetary Fund (IMF) consultation report.

In a statement released on Sunday via his official X (formerly Twitter) account, Obi claimed that approximately ₦8.83 trillion in government expenditure carried out in 2025 was not reflected in the approved federal budget. He argued that such spending, if outside the budget framework, raises serious concerns about transparency, legislative oversight and accountability in the management of public resources.

The former Anambra State governor described the situation as an example of what he called “grand corruption,” warning that continued disregard for established financial procedures could further weaken Nigeria’s economy and public institutions.

Obi: Off-Budget Spending Raises Accountability Questions

According to Obi, the reported ₦8.83 trillion represents a significant portion of Nigeria’s economy and public finances.

He argued that the amount is:

• Approximately 2% of Nigeria’s Gross Domestic Product (GDP).
• More than 35% of the Federal Government’s 2025 capital expenditure allocation, estimated at ₦23.96 trillion.
• Higher than the combined federal budget allocations for both the education and health sectors in 2025.

Obi maintained that if such funds were transparently budgeted and effectively managed, they could finance critical national priorities, including improvements in healthcare infrastructure, education, employment generation and support for small-scale industries across the country.

Fresh Criticism of Tinubu Administration

Building on his previous criticisms of the current administration, Obi argued that the alleged spending pattern reflects broader governance concerns.

He accused the government of failing to uphold sound public financial management practices, claiming that inadequate fiscal transparency contributes to rising poverty, weakens democratic institutions and undermines investor confidence.

The opposition figure also reiterated his earlier position that President Tinubu should resign, arguing that recent fiscal concerns reinforce his belief that the administration has failed to meet public expectations.

As of the time of publication, the Presidency had not issued an official response specifically addressing Obi’s latest claims.

What the IMF Report Says

Obi referenced findings from the latest International Monetary Fund Article IV Consultation on Nigeria.

An IMF Article IV Consultation is a routine assessment conducted by the Fund to evaluate a country’s economic performance, fiscal policies, financial stability and macroeconomic outlook. These reports often identify economic risks, policy recommendations and fiscal management issues but do not constitute criminal findings or legal determinations.

The IMF report reportedly noted government expenditures amounting to approximately ₦8.83 trillion that were not reflected within the formal 2025 budget framework, prompting renewed public debate over fiscal reporting and expenditure transparency.

Why the Issue Matters

Budget transparency remains a central pillar of democratic governance because federal expenditures are generally expected to pass through legislative approval and oversight mechanisms.

Financial analysts note that when significant government spending occurs outside approved budget provisions, questions often arise regarding:

• Parliamentary oversight.
• Public accountability.
• Debt sustainability.
• Fiscal discipline.
• Efficient allocation of taxpayer resources.

Such concerns have become increasingly important as Nigeria continues implementing economic reforms aimed at stabilizing inflation, improving government revenue and attracting foreign investment.

Political Context

Obi has consistently criticized the Tinubu administration since the 2023 presidential election, frequently raising concerns over inflation, unemployment, debt accumulation, exchange rate management and governance.

The latest comments add to ongoing political debates between opposition parties and the Federal Government over Nigeria’s economic direction and public financial management.

Whether the allegations lead to further legislative scrutiny or official clarification remains to be seen.

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Key Takeaways

• Peter Obi alleges ₦8.83 trillion in 2025 government expenditure was outside the approved federal budget.
• He cites findings from a recent IMF consultation report to support his concerns.
• Obi argues the alleged spending raises serious questions about fiscal transparency and accountability.
• He renewed his call for President Bola Tinubu to resign.
• No official government response specifically addressing Obi’s latest statement had been issued at the time of reporting.