Peter Obi, presidential candidate of the Labour Party in the 2023 elections, has described Nigeria as a “crime scene” following revelations of massive financial irregularities in the Nigerian National Petroleum Company (NNPC).

In a statement on Friday, Obi said the Senate’s recent audit findings on the NNPC between 2017 and 2023 revealed “₦210 trillion in financial irregularities,” including “₦103 trillion in so-called ‘accrued expenses’ and ₦107 trillion in unaccounted ‘receivables.’”

“There is no documentation. No accountability. No consequences,” Obi said.

He noted that Nigeria’s total national budget within the same period amounted to ₦88.01 trillion, which is less than half of the missing or questionable funds.

His words: “This is not just another scandal, it is a clear and damning confirmation of a nation held hostage by monumental corruption.”

Obi described the development as “a criminal institutionalised betrayal of the Nigerian people” and warned that it poses “a grave threat to the future of the society our children will live in.”

“No responsible nation can continue to function like this without confronting this truth.

“This criminality masquerading as governance must be stopped and dismantled for a better Nigeria,” he added.