Again, Obi asks Tinubu to resign, cites IMF off-budget spending claim

Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), has reiterated his call for President Bola Tinubu to resign following a claim by the International Monetary Fund (IMF) that Nigeria failed to record some public spending in various budgets.

On Wednesday, Christian Ebeke, the resident representative of the International Monetary Fund (IMF) in Nigeria, said the off-budget is worth 2 percent of gross domestic product (GDP).

Ebeke said the discrepancy means Nigeria’s fiscal deficit appears smaller than the government’s actual borrowing needs.

In a statement on Sunday, Obi said the claim raises concerns about the scale of grand corruption under President Bola Tinubu’s 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.

Obi said the amount is over 35 percent of Nigeria’s 2025 N23.96 trillion capital project budget, and more than the actual released capital funding for 2025.

“It is more than the entire combined budget for education (N3.52 trillion) and health (N2.38 trillion),” the former governor of Anambra state said.

“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 alleged that the revelation by the IMF shows the All Progressive Congress (APC) government, which is the ruling party, is grossly corrupt, incompetent, and insensitive.

“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.

OBI SAYS IMF CLAIM, INSECURITY ARE ENOUGH REASONS FOR TINUBU TO RESIGN

Addressing his previous demand that Tinubu resign, the former governor said daily revelations of pervasive corruption in the current administration and its total lack of commitment to the welfare and security of Nigerians are enough reasons for the president to step down.

“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.”

On Saturday, Atiku Abubakar, the former Vice President, asked the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to probe the allegation.(TheCable)