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Peter Obi Explodes: “Monumental Corruption Holding Nigeria Hostage!” After Shocking ₦210 Trillion NNPC Revelation
Peter Obi, the 2023 Labour Party presidential candidate, has once again expressed deep concern over the alarming scale of corruption in Nigeria’s public sector. He described the country as being “held hostage by monumental corruption.”....KINDLY READ THE FULL STORY HERE▶
Reacting to the Nigerian Senate’s revelation of massive financial discrepancies amounting to trillions of naira in the audited accounts of the Nigerian National Petroleum Company Limited (NNPC), Obi described the situation as another disturbing confirmation that Nigeria has become “a crime scene.”
In a statement issued on Friday, Obi referred to the Senate Public Accounts Committee’s investigative findings. The committee, led by Senator Aliyu Wadada, disclosed that the NNPC’s Chief Financial Officer, Adedapo Segun, failed to justify staggering legal and auditing fees, along with conflicting records of over ₦210 trillion in receivables between 2017 and 2023.
Obi, a former Governor of Anambra State, condemned the development as not just a scandal but “a criminal, institutionalised betrayal” of Nigerians by those in positions of authority, with zero accountability or consequences.
He further noted that the sum in question far exceeds the nation’s total budgets for the same period. Listing the annual budgets from 2017 to 2023, which cumulatively stood at ₦88.01 trillion, Obi said the discrepancy in the NNPC accounts is more than double the nation’s total spending within that timeframe.
In his words:
“It is with great sorrow that I once again affirm what I have repeatedly said — Nigeria has become a crime scene.
How else can one interpret the Senate’s revelation from NNPC’s audited reports between 2017 and 2023? We’re talking about ₦210 trillion in irregularities — ₦103 trillion labeled as ‘accrued expenses’ and ₦107 trillion in undocumented ‘receivables’. No records. No explanations. No punishment.
This isn’t just another scandal. It is a damning indictment of a system hijacked by corruption.
The total national budgets for the years in question — ₦7.44 trillion (2017), ₦9.12 trillion (2018), ₦8.92 trillion (2019), ₦9.97 trillion (2020, revised), ₦13.59 trillion (2021), ₦17.13 trillion (2022), and ₦21.83 trillion (2023) — amount to ₦88.01 trillion. Yet, the missing amount is more than twice this.
This level of financial impunity is not just unacceptable — it’s dangerous for the future of our children and the survival of this country.
Nigeria cannot continue this way. This corruption disguised as governance must be confronted and eradicated if we are to build a better, functional nation.”
Obi’s remarks come as citizens increasingly demand transparency and accountability in the management of public resources, especially from critical institutions like the NNPC.
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