Nigeria is bleeding from within – Peter Obi

A presidential aspirant on the platform of the opposition African Democratic Congress (ADC) on Saturday said Nigeria is bleeding from within because of institutionalised corruption on a massive scale.

In a post on his X handle, the former governor of Anambra State said it was “deeply troubling” to read recent World Bank reports indicating that, while Nigeria’s Federation Revenue surged to N84 trillion in just three years, a staggering 41% —amounting to N34.44 trillion —never reached the Federation Account.

He said this sum exceeded the combined N34 trillion earmarked for capital projects in the 2024 and 2025 Appropriation Bills.

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The presidential candidate of the Labour Party (LP) in the 2023 election said this comparison that underscored the gravity of the situation and signalled that “something is fundamentally wrong.”

“This is not a mere oversight; it points to institutionalised corruption on a massive scale,” he said.

Part of the post read, “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.”

Obi said these leakages explain why countries with fewer resources are out-performing us across key development indices.

He wondered how Nigeria can fix power, strengthen schools, build resilient healthcare, or develop critical infrastructure with such a broken system.

He said it is time to redirect hijacked resources back to the people and move Nigeria into the league of developed nations.

“Nigeria has no business being poor. We must stop these leakages through disciplined, transparent leadership driven by character.

“With our collective resolve to change this corruption-infested system, a new Nigeria is possible,” he said.