ABUJA, NIGERIA — In a move that has sent shockwaves through the corridors of power, Peter Obi has sensationally alleged that ₦34.44 trillion in federation revenue has been stolen under a system of institutionalised corruption—and he is pointing the finger directly at the presidency.
The Labour Party leader revealed that while the federation generated ₦84 trillion in the last three years, a staggering 41% of that wealth never reached the Federation Account. Obi isn’t just calling it a “leakage”; he is describing it as a calculated heist, asserting that President Bola Tinubu and his administration are fully aware of where these missing trillions are being diverted.
“The Great Remittance Robbery”
Obi’s explosive claims, backed by a deep dive into recent World Bank fiscal reports, suggest that the ₦34.44 trillion vanished before it could be used to build a single road or school. He argued that this is not a case of administrative error but a deliberate scheme where nearly half of the nation’s earnings are intercepted at the source.
“This is institutionalised corruption on a massive scale,” Obi declared, noting that the stolen ₦34 trillion actually exceeds the entire capital budget of the country for the last two years combined. He insisted that for such a massive sum to go missing, it must be happening with the full knowledge and coordination of those at the very top of the political food chain.
Tinubu Under the Spotlight
The allegation puts President Tinubu in a tight corner. Critics are now asking how a government that claims to be “plugging leakages” and “reforming the economy” can oversee the disappearance of 41% of the national revenue. Obi’s narrative suggests that while the masses are being told to tighten their belts and endure the pain of subsidy removals, a “kleptocratic elite” is feasting on trillions in unremitted funds.
The former Anambra governor challenged the President to come clean on why agencies like the NNPCL and other revenue giants are allowed to withhold such astronomical sums with total impunity. He suggested that the presidency’s silence on these specific “revenue holes” is an admission of complicity.
A Nation Bleeding Out
As the ₦34 trillion scandal gains momentum, the pressure is mounting on the National Assembly to move beyond mere “ultimatums” and launch a criminal investigation into the missing funds. With the cost of living skyrocketing and the national debt hitting record highs, the revelation that a fortune has been “stolen” right under the government’s nose has sparked fresh outrage across the country.
The presidency has yet to issue a direct rebuttal to the claim that they “know where the money is,” but the political stakes for 2027 have just been raised to a breaking point.
