News

May 21, 2025

₦70trn budget fraud: Nigeria must stop being a crime scene to progress – Peter Obi

Peter Obi

Peter Obi

By John Alechenu, Abuja

Presidential candidate of the Labour Party (LP) in the 2023 general election, Peter Obi, has again warned that Nigeria cannot achieve meaningful development unless it decisively tackles systemic corruption.

Obi made this known in a statement posted on his verified X (formerly Twitter) account on Wednesday, in reaction to a report by anti-corruption watchdog BudgIT, which revealed over ₦7 trillion in questionable allocations within the proposed 2025 national budget.

“I have consistently maintained that for this country to make progress, Nigeria must cease to function as a crime scene and be repositioned for genuine development,” Obi wrote.

He described the corruption as “entrenched, persistent, and deeply rooted,” stating that unless urgently addressed, it would continue to undermine efforts at national progress.

“How else can we explain the distressing revelations by BudgIT, which uncovered a staggering ₦7 trillion in questionable projects inserted into the 2025 national budget? I am convinced this figure represents only a fraction of what is truly being misappropriated.”

Obi criticized the mismanagement of public funds, comparing the ₦7 trillion in fraudulent allocations to the budgets of critical development ministries. According to him:

Ministry of Education – ₦3.52 trillion

Ministry of Health – ₦2.48 trillion

Ministry of Humanitarian Affairs and Poverty Alleviation – ₦260 billion

Ministry of Agriculture and Food Security – ₦636.08 billion

These four ministries collectively received ₦6.896 trillion, less than the amount allegedly padded into the budget.

“That ₦7 trillion figure is even greater than the ₦6.1 trillion allocated to national security—at a time when Nigeria ranks among the most terrorized countries in the world,” he added.

Obi further lamented that this “brazen impunity” explains why Nigeria struggles to fund essential sectors like education, healthcare, agriculture, and security. He blamed corruption for the country’s high number of out-of-school children, under-resourced hospitals, widespread hunger, and lack of support for small businesses.

“We face widespread hunger, yet our leaders neglect agricultural investment due to persistent mismanagement. The same disregard affects our ability to fund national security or support MSMEs, which are vital to economic growth.”

Calling for urgent reforms, Obi stressed the need for fiscal discipline, accountability, and transparency in managing public resources.

“We must confront corruption, misappropriation, and fiscal recklessness with unwavering resolve. Our resources must be effectively managed and strategically invested in key sectors—health, education, and poverty alleviation—to secure a better future.”

He ended his statement with a call for hope and collective national renewal: “A new Nigeria is POssible.”