Mr. Peter Obi, a prominent figure in the African Democratic Congress (ADC), has raised an alarm over what he describes as institutionalized corruption resulting in the loss of ₦34.44 trillion in federation revenue.
In a statement released on Saturday, Obi cited World Bank reports indicating that 41% of the ₦84 trillion generated over the last three years never reached the Federation Account.
The former presidential candidate expressed dismay that the missing amount exceeds the combined capital expenditure budgets for 2024 and 2025.
He argued that these systemic "deductions" have left critical sectors like healthcare and education starving for funds while state agencies capture more resources than entire states.
"We are trapped in a lethal paradox: Earning more as a nation, yet having less to invest in healthcare, education, and infrastructure," Obi stated.
Obi compared the current situation to the 1994 Okigbo Panel report on the $12.4 billion oil windfall, noting that while that era sparked national outrage, the current "massive scale" leakage is being met with a disquieting silence.
He called for immediate transparency and a redirection of resources to national development.
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