Former presidential candidate of the Labour Party, Mr. Peter Obi, has again raised alarm over the scale of corruption in Nigeria, describing the country as a “crime scene” following revelations by the Senate of financial irregularities amounting to ₦210 trillion in the audited accounts of the Nigerian National Petroleum Company (NNPC) between 2017 and 2023.
In a statement posted on his official X (formerly Twitter) account, Obi expressed deep concern over what he called “a criminal institutionalised betrayal of the Nigerian people” and a “grave threat to the future of the society our children will live in.”
“How else does one explain the recent revelation by the Senate, which uncovered ₦210 trillion in financial irregularities—₦103 trillion in so-called ‘accrued expenses’, and ₦107 trillion in unaccounted ‘receivables’? No documentation. No accountability. No consequences,” Obi stated.
He noted that the figure dwarfs the country’s total national budgets within the same seven-year period, which cumulatively stood at ₦88.01 trillion. This, he argued, demonstrates that the level of mismanagement and corruption within state institutions has reached catastrophic proportions.
Yearly National Budgets (2017–2023):
* 2017: ₦7.44 trillion
* 2018: ₦9.12 trillion
* 2019: ₦8.92 trillion
* 2020: ₦9.97 trillion (revised due to COVID-19)
* 2021: ₦13.59 trillion
* 2022: ₦17.13 trillion
* 2023: ₦21.83 trillion
Total: ₦88.01 trillion
Obi questioned how a nation with such staggering financial discrepancies could function responsibly, insisting that the irregularities go beyond a mere scandal and represent “a clear and damning confirmation of a nation held hostage by monumental corruption.”
He further called for urgent reforms to address what he described as “criminality masquerading as governance,” warning that unless Nigeria confronts these systemic failures, the dream of building a functional nation will remain elusive.
“No responsible nation can continue to function like this without confronting this truth,” he wrote. “This criminality must be stopped and dismantled for a better Nigeria.”
He concluded by reaffirming his belief that “a new Nigeria is POssible.”