Obi Raises Alarm Over ₦34trn Missing Federation Revenue Funds
Edino Chubiyo Cornelius 
Peter Obi speaking on Nigeria’s revenue challenges (Photo credit: Internet)
ABUJA, Nigeria – Former presidential candidate Peter Obi warns that Nigeria loses an estimated ₦34 trillion in unremitted revenue over three years, calling for urgent fiscal reforms.
Obi states that although the country generates about ₦84 trillion within the period, roughly 41 per cent fails to reach the Federation Account.
“This represents a serious flaw in public financial management,” he says.
He notes that the missing funds nearly equal combined capital expenditure in recent national budgets, raising concerns about development priorities.
According to data from the World Bank, federation revenue increases during the period, but deductions before distribution surge significantly.
Obi argues that the trend undermines investments in healthcare, education and infrastructure.
“There is a contradiction where rising revenues do not translate into development outcomes,” he says.
He warns that some agencies now control resources exceeding those of key government sectors, limiting national progress.
Drawing parallels with past financial controversies, Obi cautions that continued opacity could worsen Nigeria’s economic challenges.
He calls for transparency, accountability and reforms to block leakages.
“Public funds must be managed responsibly to drive national development,” he adds.
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