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) revelation that about N8.83 trillion in public expenditure undertaken in 2025 was not captured in the national budget.
The IMF’s Resident Representative in Nigeria, Christian Ebeke, disclosed on Wednesday that off-budget spending accounted for about two per cent of Nigeria’s Gross Domestic Product (GDP), creating a gap between the country’s reported fiscal deficit and its actual borrowing requirements.
Reacting to the disclosure, Obi described the omission as a serious breach of public financial management, arguing that the expenditure was carried out without legislative oversight or administrative scrutiny.
According to him, the N8.83 trillion exceeds 35 per cent of Nigeria’s N23.96 trillion capital expenditure budget for 2025 and is higher than the amount actually released for capital projects during the year.
Obi further noted that the amount is greater than the combined allocations to the education sector, which received N3.52 trillion, and the health sector, which was allocated N2.38 trillion.
He argued that if properly managed, the funds could have transformed public education and healthcare, stimulated cottage industries, created employment opportunities for thousands of graduates, and accelerated economic development.
The former Anambra State governor alleged that the IMF’s findings reflected a pattern of corruption under the Tinubu administration, accusing the government of disregarding established public finance procedures.
According to Obi, entrenched corruption, coupled with poor governance, poses a significant threat to national security, worsens poverty, and weakens the foundations of the Nigerian state.
He also accused the ruling All Progressives Congress (APC) government of being corrupt, incompetent, and insensitive to the needs of Nigerians despite rising poverty and infrastructure deficits.
Reaffirming his earlier demand for Tinubu’s resignation, Obi said recent revelations surrounding public finance management and the administration’s handling of citizens’ welfare and security justified his position.
He maintained that the alleged collapse of due process and growing concerns over accountability made it necessary for Nigerians to demand greater transparency from the government through lawful means.
Meanwhile, former Vice President Atiku Abubakar has called on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the IMF’s allegations regarding the off-budget expenditure.