Peter Obi alleges ₦34.44 trillion missing from Nigeria’s federation revenue over three years
Peter Obi of the African Democratic Congress says that, according to World Bank reports, Nigeria earned about ₦84 trillion in federation revenue in the past three years but 41 %—roughly ₦34.44 trillion—was not remitted to the Federation Account. He shared this allegation in a statement on X on Saturday, noting that the missing sum exceeds the combined ₦34 trillion allocated for capital projects in the 2024 and 2025 Appropriation Bills. Obi describes the shortfall as evidence of institutionalised corruption that deprives healthcare, education, and infrastructure of needed funding, creating a paradox where the nation earns more yet has less to invest in critical sectors. He calls for greater transparency and accountability in revenue management, urging leaders to redirect public resources toward national development priorities and to treat the leakage as a serious breach of public trust. The comparison to the 1994 Okigbo Panel findings on unaccounted Gulf War oil windfall underscores, in his view, the scale of the problem and the silence that has greeted it.