Labour Party leader says “grand corruption” poses threat to national security_
*ABUJA, July 1, 2026* – Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has accused the Bola Tinubu administration of “grand corruption” after a new IMF report revealed that N8.83 trillion in government expenditure for 2025 was not captured in the national budget.
In a statement titled _“Grand Corruption: Nigeria’s Greatest Threat”_, Obi described the development as “horrible” and warned that it points to a pattern of disregard for public finance rules under the current government.
Citing the IMF consultation report, Obi said the N8.83 trillion was spent outside the budgetary process and therefore escaped both legislative oversight and administrative scrutiny.
He broke down the figure to show its scale:
1. *About 2% of Nigeria’s GDP*
2. *Over 35% of the N23.96 trillion 2025 capital project budget*. Obi noted the amount is “more than the actual released capital funding for 2025”
3. More than the combined 2025 budgets for education and health Education was allocated N3.52 trillion while health got N2.38 trillion.
“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. But we cannot account for it,” Obi said.
*‘A pattern of corruption’*
The former governor argued that the revelation was “not an isolated incident” but part of a broader pattern of corruption that undermines state stability.
“This is a pattern of grand corruption that has become part of this administration,” he stated. “The capture of the Nigerian state and the plunder of its resources are actions that undermine the basis of state stability and deepen poverty and state failure.”
Obi described the Tinubu government as “grossly corrupt, incompetent, and insensitive” at a time of growing poverty and urgent infrastructure needs.
*Call for resignation*
He renewed his call for President Tinubu to resign, citing “incompetence, lack of capacity, lack of compassion, and failure to improve on his campaign promises.”
“A few days ago, I called on President Tinubu to resign from office… But 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,” Obi said.
He added that the “collapse of elementary forms of due process” and “increased evidence of rampant looting of Nigerian public finances” make accountability urgent.
“It is now time for Nigerian citizens to rise within the law and hold this administration to account. A New Nigeria is POssible,” he concluded.
The Presidency is yet to respond to Obi’s allegations as at the time of filing this report.
