The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has renewed his call for President Bola Tinubu to resign, citing the International Monetary Fund’s (IMF) disclosure that Nigeria recorded trillions of naira in off-budget spending during the 2025 fiscal year.
Obi described the alleged unrecorded expenditure as evidence of deepening corruption, weak fiscal accountability and disregard for due process under the current administration.
The former Anambra State governor was reacting to remarks by the IMF’s Resident Representative in Nigeria, Christian Ebeke, who disclosed that public expenditure equivalent to about 2 percent of Nigeria’s Gross Domestic Product (GDP) was not reflected in the country’s budget.
According to the IMF official, the omission means Nigeria’s fiscal deficit appears lower than its actual borrowing requirements.
In a statement released on Sunday, Obi claimed the IMF’s findings suggest that about ₦8.83 trillion spent in 2025 was not captured in the national budget.
“The IMF now reveals that about ₦8.83 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,” Obi said.
Obi argued that the amount in question exceeds 35 percent of Nigeria’s ₦23.96 trillion capital expenditure budget for 2025 and is larger than the actual capital funds released during the year.
He further noted that the sum is greater than the combined federal allocations for education and healthcare.
According to him, prudent management of such resources could have significantly improved Nigeria’s education and health sectors, created employment opportunities and accelerated economic growth.
If such an amount is properly used and accounted for, it could transform Nigeria’s public health and education sectors.
It could create hundreds of cottage industries that can provide jobs for thousands of graduates and build a solid foundation for economic development, Obi stated.
The opposition politician alleged that the reported off-budget spending reflects a broader pattern of financial mismanagement under the current administration.
He claimed the alleged failure to subject the expenditure to legislative oversight raises serious concerns about transparency and accountability in public finance.
According to Obi, corruption on such a scale poses risks to national security, weakens state institutions and worsens poverty across the country.
“The capture of the Nigerian state and the plunder of its resources undermine the foundation of national stability and deepen poverty, he said.
He also accused the ruling All Progressives Congress (APC) administration of failing to prioritize the welfare of Nigerians despite the country’s growing economic challenges
Reiterating an earlier demand for President Tinubu’s resignation, Obi argued that repeated allegations of corruption, insecurity and poor governance justify his position.
“A few days ago, I called on President Tinubu to resign because of incompetence, lack of capacity, lack of compassion and failure to fulfil his campaign promises,” Obi said.
“With the daily revelations of pervasive corruption and the administration’s lack of commitment to the welfare and security of Nigerians, the only reasonable action is for President Tinubu to resign from office.
He further urged Nigerians to lawfully demand greater accountability from the government.
Obi’s remarks come a day after former Vice President Atiku Abubakar called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the alleged off-budget spending highlighted by the IMF.
The growing controversy has intensified public debate over transparency, fiscal discipline and accountability in Nigeria’s public finance management, with opposition figures demanding a comprehensive investigation into the reported expenditure.
