Former Labour Party presidential candidate, Peter Obi, has called on the Federal Government to provide a clear explanation regarding the International Monetary Fund (IMF)’s report alleging that about ₦8.83 trillion was spent outside the approved national budget framework.
Obi expressed concern over the report, describing the alleged off-budget expenditure as a serious issue that raises questions about transparency, accountability, and fiscal discipline in the management of public funds.
According to him, Nigerians deserve to know how such a large sum was spent, the projects or programmes it was allocated to, and whether the spending followed due process. He stressed that public resources must be managed in a manner that is open to scrutiny and in line with established financial regulations.
The former Anambra State governor argued that the country cannot effectively tackle economic challenges, rising debt levels, and declining public confidence without ensuring accountability at all levels of government. He noted that transparency in public finance is essential for attracting investment, strengthening institutions, and promoting sustainable development.
Obi urged the Tinubu administration to address the concerns raised in the IMF report and provide detailed information to reassure Nigerians that public funds are being used responsibly and in the nation’s best interest.
The call has sparked reactions across political and economic circles, with many Nigerians demanding further clarification on the reported expenditure and its implications for the country’s fiscal position.
Welcome to KjtsonBlog, your trusted source for Nigerian celebrity news, Naija entertainment updates, and trending news in Nigeria. Stay connected to the latest gist, events, and stories across Naija and worldwide.