BOLAJI ADELAJA
In a strongly worded statement released today, former presidential candidate and prominent political figure, Peter Obi, has condemned what he describes as the institutionalized criminality of Nigeria’s governance, following alarming revelations from the Senate’s review of the Nigerian National Petroleum Corporation’s (NNPC) audited accounts.
The Senate investigation uncovered a staggering ₦210 trillion in financial irregularities within the NNPC from 2017 to 2023. This includes ₦103 trillion in undocumented “accrued expenses” and an additional ₦107 trillion in unaccounted “receivables”, all lacking proper documentation, accountability, or consequences
“It is with the utmost sadness that I once again reaffirm what I have consistently said: Nigeria has become a crime scene,” Obi said in his statement.
“This is not just another scandal. It is a clear and damning confirmation of a nation held hostage by monumental corruption.”
Obi compared the alleged discrepancies to Nigeria’s total national budgets over the same period, which amounted to ₦88.01 trillion, and less than half of the financial irregularities are now under scrutiny.
Budget Figures (2017–2023):
2017: ₦7.440 trillion
2018: ₦9.120 trillion
2019: ₦8.916 trillion
2020: ₦9.974 trillion (revised due to COVID)
2021: ₦13.588 trillion
2022: ₦17.130 trillion
2023: ₦21.830 trillion
Total: ₦88.010 trillion
“This is a criminal, institutionalised betrayal of the Nigerian people and a grave threat to the future of the society our children will live in,” Obi continued.
READ ALSO: CSO Raises Alarm as NNPCL Board Jets Off to Rwanda in Five Private Aircraft
He urged Nigerians and stakeholders to confront what he described as “criminality masquerading as governance,” insisting that the country can not continue on this path and expect genuine progress.
“No responsible nation can continue to function like this without confronting this truth,” he warned.
“This criminality masquerading as governance must be stopped and dismantled for a better Nigeria. A new Nigeria is possible.”
The NNPC is yet to issue an official response to the Senate’s findings or Obi’s statement.