By Sabiu Abdullahi
Former presidential candidate of the Nigeria Democratic Congress, Peter Obi, has again asked President Bola Tinubu to resign over allegations of off-budget spending raised by the International Monetary Fund.
Obi made the call in a statement on Sunday while reacting to comments by the IMF’s resident representative in Nigeria, Christian Ebeke.
Ebeke had stated on Wednesday that Nigeria recorded off-budget expenditure worth about two per cent of the country’s Gross Domestic Product. According to him, the development makes the nation’s fiscal deficit appear lower than its actual borrowing needs.
Reacting to the disclosure, Obi described the situation as alarming. He said it raises fresh concerns about corruption under the current administration.
“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,” he said.
The former Anambra State governor stated that the amount exceeds 35 per cent of the N23.96 trillion capital expenditure budget for 2025. He also noted that it is higher than the actual capital releases made during the year.
“It is more than the entire combined budget for education (N3.52 trillion) and health (N2.38 trillion),” Obi stated.
“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. This is not an isolated incident. This is a pattern of grand corruption that has become part of this administration.
“We have a lot to worry about regarding the state of corruption under President Tinubu. The sort of corruption that is ingrained in total disregard of elementary rules of public finance management poses a grave danger to national security and the stability of the Nigerian state.
“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 also accused the ruling All Progressives Congress of failing to manage public resources responsibly despite growing economic hardship across the country.
“With the growing poverty and the urgent need for significant upgrades to social and physical infrastructure, a responsible and responsive government would ensure that N8.83 trillion is prudently utilised to address these gaps. But not the Tinubu administration,” he said.
The former governor maintained that recent allegations of corruption and insecurity were enough reasons for the president to step down from office.
“A few days ago, I called on President Tinubu to resign from office for incompetence, lack of capacity, lack of compassion, and failure to improve on his campaign promises. Some people thought perhaps the call was excessive,” he said.
“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.
“The collapse of elementary forms of due process under Tinubu and the increased evidence of rampant looting of Nigerian public finances reinforce the need for greater accountability. It is now time for Nigerian citizens to rise within the law and hold this administration to account.”
Former Vice-President Atiku Abubakar had earlier called on the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission to investigate the allegation.
