Former presidential candidate and one time Anambra state governor Peter Obi has expressed deep concern about a widely publicised World Bank statement about leakages in Nigeria’s finances.
In a statement Wednesday and titled Nigeria is bleeding from within, Obi called the content of the World Bank comments as “deeply troubling.”
He said the “recent World Bank reports indicating that, while Nigeria’s Federation Revenue surged to ₦84 trillion in just three years, a staggering 41% —amounting to ₦34.44 trillion —never reached the Federation Account.”
Obi added, “this sum exceeds the combined ₦34 trillion earmarked for capital projects in the 2024 and 2025 Appropriation Bills, a comparison that underscores the gravity of the situation and signals that something is fundamentally wrong.
“This is not a mere oversight; it points to institutionalised corruption on a massive scale. In 1994, when the Okigbo Panel reported about $12.4 billion from the Gulf War oil windfall as unaccounted for, Nigerians were outraged and the nation shook with indignation.
“Today, an even more troubling situation appears to be unfolding, yet it is met with a disquietening silence.
“We are trapped in a lethal paradox: Earning more as a nation, yet having less to invest in healthcare, education, and infrastructure. From 2025, systemic “deductions” have allowed agencies to capture more resources than entire states and even critical ministries.
“These leakages explain why countries with fewer resources are out-performing us across key development indices. With such a broken system, how can we fix power, strengthen our schools, build resilient healthcare, or develop critical infrastructure?”
According to Obi, “Nigeria has no business being poor. “We must stop these leakages through disciplined, transparent leadership driven by character. It is time to redirect our hijacked resources back to the people and move Nigeria into the league of developed nations.
“With our collective resolve to change this corruption-infested system, a New Nigeria is.”
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