He, however, said the administration was working hard to solve the problem and others facing security agencies in the country.
Obi spoke with State House correspondents at the end of a meeting of the Police Fund Committee chaired by Vice-President Namadi Sambo.
He said the current administration was committed to changing the fortunes of all security agencies in the country, especially the police.
“We are looking at the overall picture, not just the rot here or rot there. The rot (in Police College, Ikeja) was not brought about by this administration but we are striving to solve it and we can’t solve it without funding.
“We can’t provide adequate security without funding. We will come up with something that will make meaning to Nigerians,” he said.