Peter Obi Blames ₦34.4 Trillion Leakages on “Institutionalised Corruption”

Peter Obi raised alarm over massive revenue leakages in Nigeria. He noted that of ₦84 trillion earned over three years, about ₦34.4 trillion never reached the Federation Account. He warned this shortfall exceeds the combined ₦34 trillion capital allocation in the 2024 and 2025 budgets. “This is not a mere oversight; it points to institutionalised corruption on a massive scale,” he said. Obi compared the situation to the 1994 Okigbo Panel’s $12.4 billion oil windfall findings. He lamented that rising revenue has not translated into better investment in healthcare, education or infrastructure. He urged disciplined, transparent leadership to redirect funds back to citizens. With collective resolve, he said, a new Nigeria is possible.

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