Peter Obi Alleges Financial Mismanagement Over Reported ₦8.83 Trillion Expenditure
Peter Obi Alleges Financial Mismanagement Over Reported ₦8.83 Trillion Expenditure
Former Labour Party presidential candidate, Peter Obi, has accused the administration of President Bola Ahmed Tinubu of financial mismanagement, citing a reported ₦8.83 trillion expenditure that he said raises serious concerns about transparency and accountability in government spending.
In a statement, Obi described the reported expenditure as alarming, arguing that the amount represents a significant portion of Nigeria’s economy and should have been invested in critical sectors capable of improving the lives of millions of Nigerians.
The former Anambra State governor said the reported figure is equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP) and more than 35 per cent of the country’s 2025 capital expenditure budget. According to him, such a huge sum could have transformed infrastructure, education, healthcare, agriculture, and job creation if properly managed.
Obi further argued that the amount exceeds the combined budgetary allocations to the education and health sectors, stressing that prudent management of public resources remains essential to tackling poverty, unemployment, and other socio-economic challenges facing the country.
He called on the Federal Government to provide a detailed explanation of the reported expenditure, insisting that Nigerians deserve full disclosure on how public funds are managed. He also urged relevant oversight institutions to ensure transparency and accountability in public finance.
The former presidential candidate renewed his criticism of the Tinubu administration, alleging that it has fallen short of expectations in key areas, including economic management, security, and the welfare of citizens. He urged Nigerians to continue demanding accountability through lawful and democratic means.
As of the time of filing this report, the Presidency had not issued an official response to Obi’s allegations.
