Labour Party presidential candidate Peter Obi has called on the Tinubu administration to provide a full explanation regarding ₦8.83 trillion in expenditures reported by the International Monetary Fund as having occurred outside the national budget.
In a public statement, Obi described the figure as deeply troubling and linked it to concerns of large-scale mismanagement of public funds. He argued that spending of this magnitude without legislative approval undermines fiscal transparency and erodes public trust.
According to Obi, Nigerians deserve to know how the money was allocated, which projects or obligations it covered, and what mechanisms were used to authorize it. He stressed that off-budget spending weakens accountability structures and makes it difficult to track government performance.
The former Anambra governor urged relevant authorities, including the National Assembly and anti-graft agencies, to investigate the IMF’s report and ensure those responsible are held to account. He maintained that clear financial disclosures are essential to restoring confidence in the management of the country’s resources.
