Labour Party presidential candidate in the 2023 election, Peter Obi, has accused the administration of President Bola Tinubu of gross corruption over an alleged ₦8.83 trillion expenditure outside the approved 2025 national budget.
Obi made the allegation in a statement posted on his verified X account on Sunday, July 5, 2026, citing findings from the International Monetary Fund’s 2025 Article IV Consultation Report on Nigeria.
According to Obi, the IMF report indicated that the Federal Government spent ₦8.83 trillion in 2025 without appropriation by the National Assembly, describing the development as a major breach of public financial accountability.
He called the alleged expenditure “a horrible revelation.”
Obi further alleged that the amount represents about 2 per cent of Nigeria’s Gross Domestic Product and more than 35 per cent of the ₦23.96 trillion capital expenditure contained in the 2025 budget.
“The ₦8.83 trillion is about two per cent of our GDP and over 35 per cent of the capital expenditure budget for 2025.”
He also claimed the sum exceeded the combined allocations to the education and health sectors in the 2025 Appropriation Act.
“…is even greater than the combined allocations to education and health in the 2025 budget.”
Obi accused the Tinubu administration of failing to uphold transparency and accountability in the management of public finances.
“This government is grossly corrupt, incompetent and insensitive.”
He argued that if properly managed, the alleged ₦8.83 trillion could have been used to improve infrastructure, strengthen public services, create employment opportunities and reduce poverty across the country.
The former Anambra State governor based his claims on his interpretation of the IMF’s 2025 Article IV Consultation Report, which reviews Nigeria’s economic performance and fiscal position.
The IMF report itself does not make a legal finding of corruption, while Obi’s comments reflect his political assessment of the reported expenditure.
The Presidency, the Federal Ministry of Finance and the Budget Office had not publicly responded to Obi’s allegations or issued statements addressing his interpretation of the IMF report.