Peter Obi Alleges N34.44tn Missing Revenue in Nigeria

Peter Obi, a member of the African Democratic Congress (ADC), has expressed grave concerns regarding a massive revenue leak in Nigeria, alleging that approximately N34.44 trillion is missing from federal accounts. In a statement shared on Saturday, Obi referenced a recent World Bank report indicating that Nigeria generated N84 trillion in federal revenue over the past three years.

However, he claimed that 41% of this amount, approximately N34.44 trillion, has not been remitted to the federal account. This figure exceeds the combined N34 trillion allocated for capital projects in the 2024 and 2025 appropriation bills.

Obi emphasized that this situation reflects systemic issues in public financial management, which continue to deprive critical sectors such as healthcare, education, and infrastructure of necessary funding. He called for greater transparency and accountability in revenue management and urged leaders to redirect public resources toward national development priorities.

Obi's remarks highlight a troubling trend in Nigeria's financial management, reminiscent of past instances of institutional corruption.