Obi Criticises Tinubu Government Over Alleged ₦8.83tn Off-Budget Spending

The presidential candidate of the Labour Party in the 2023 general election, Peter Obi, has called for greater accountability from the Federal Government following an International Monetary Fund (IMF) report indicating that about ₦8.83 trillion in government spending during 2025 was not reflected in Nigeria’s national budget.

In a statement shared on his X account on Sunday, Obi described the reported off-budget expenditure as evidence of what he called "grand corruption" within President Bola Tinubu's administration.

According to Obi, the amount represents roughly 2% of Nigeria’s Gross Domestic Product (GDP) and exceeds the combined federal budget allocations for the education and health sectors in 2025. He argued that if the funds had been properly budgeted and transparently managed, they could have significantly improved public services across the country.

Obi further alleged that spending outside the approved budget bypasses legislative oversight and weakens transparency in public finance. He claimed the development reflects a broader pattern of financial mismanagement and renewed his call for President Tinubu to resign.

The former Anambra State governor also urged Nigerians to demand greater accountability and transparency in the management of public resources.

The comments followed remarks by the IMF Resident Representative in Nigeria, Christian Ebeke, who disclosed that government expenditures equivalent to about 2% of GDP had not been reported in official budgets. He said the omission distorted Nigeria’s actual fiscal position and made the budget deficit appear smaller than it truly was.

The IMF explained that much of the unreported spending was tied to major infrastructure projects executed outside the formal budget process. The Fund warned that such practices complicate fiscal planning, weaken oversight, and reduce transparency.

However, the IMF acknowledged that the Federal Government has begun taking steps to address the issue by revising budget laws to ensure all expenditures are properly captured in future budgets while improving fiscal reporting and transparency.

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