Peter Obi Again Calls on Tinubu to Resign, Cites IMF Report on Off-Budget Spending

The presidential candidate of the Labour Party (LP) in the 2023 general election, Peter Obi, has renewed his call for President Bola Ahmed Tinubu to resign, citing concerns raised in a recent International Monetary Fund (IMF) report over Nigeria’s off-budget spending and broader fiscal management.

Obi argued that the IMF’s observations reinforce longstanding concerns about transparency, accountability and the management of public finances under the current administration. He maintained that the government must take responsibility for Nigeria’s worsening economic challenges and restore public confidence through greater fiscal discipline.

His latest remarks have added to the growing political debate over the country’s economic direction, with supporters and critics offering differing views on the administration’s performance.

In his statement, Obi pointed to the IMF’s assessment of Nigeria’s public finances, particularly its observations on off-budget expenditure and the need for stronger fiscal governance.

According to the former Anambra State governor, prudent management of public resources remains essential to addressing Nigeria’s economic challenges, including inflation, rising public debt, unemployment and the high cost of living.

Obi argued that transparency in government spending is critical to maintaining investor confidence and ensuring that public funds are used efficiently for national development.

He said the country’s economic difficulties require leadership that places accountability and responsible financial management at the centre of governance.

This is not the first time Obi has criticised the Tinubu administration over its handling of the economy.

The Labour Party leader reiterated his position that the President should step aside, arguing that the administration has failed to effectively address the economic hardships facing millions of Nigerians.

He maintained that the country requires a new approach to governance, one focused on fiscal responsibility, institutional reforms and policies capable of restoring economic stability.

Obi also urged the government to provide clearer explanations regarding issues highlighted in the IMF report in order to reassure citizens and international partners.

The IMF’s recent assessment has generated widespread discussion among economists, policymakers and political stakeholders.

The report reportedly highlighted concerns about fiscal management, including off-budget spending, while recommending stronger public financial oversight, improved revenue mobilisation and greater transparency in government expenditure.

Economic analysts note that international financial institutions often encourage governments to strengthen budgetary discipline as part of efforts to promote macroeconomic stability and sustainable growth.

While the IMF’s recommendations are advisory, they are closely watched by investors, development partners and credit rating agencies assessing the health of national economies.

As of the time of filing this report, the Presidency had not issued an official response specifically addressing Obi’s renewed call for President Tinubu’s resignation.

However, the Federal Government has consistently defended its economic reforms, arguing that policies such as the removal of fuel subsidies, exchange rate reforms and tax restructuring are necessary to reposition Nigeria’s economy for long-term growth.

Government officials have repeatedly acknowledged the short-term hardships associated with the reforms while insisting that the measures will deliver sustainable economic benefits over time.

Obi’s comments have drawn mixed reactions across Nigeria’s political landscape.

Supporters argue that opposition leaders have a constitutional responsibility to hold the government accountable and question policies affecting citizens.

Others, however, believe calls for resignation are politically motivated and insist that the administration should be given more time to implement its economic agenda.

Political analysts say such exchanges are a normal feature of democratic governance, where opposition parties scrutinise government policies and present alternative visions for national developments.

The renewed political debate comes as Nigerians continue to grapple with rising inflation, increased food prices, exchange rate volatility and the high cost of living.

Businesses and households have faced mounting economic pressure in recent months, prompting calls for additional government interventions to cushion the impact of ongoing reforms.

Economists have stressed the importance of balancing fiscal discipline with targeted social protection programmes to support vulnerable populations while pursuing long-term economic stability.

The exchange between Peter Obi and the Tinubu administration reflects the broader national conversation about economic management, public accountability and governance.

As Nigeria continues implementing major fiscal and economic reforms, issues relating to transparency, government spending and public trust are likely to remain at the centre of political discourse.

The IMF’s recommendations, combined with increasing scrutiny from opposition parties, underscore the importance of prudent fiscal management as Nigeria seeks to strengthen investor confidence, improve economic performance and address the challenges facing millions of citizens.