Posted by Webby on
Mr president... we hereby advise you to resign honourably within two weeks.
The move comes after disagreements between the government and MPs over the budget.
The BBC's Dan Isaacs in Lagos say that Mr Obasanjo certainly will not resign and is unlikely to be forced out of office.
Mr Obasanjo was voted into power in 1999, bringing to an end 15 years of military rule.
Correspondents say a president can be impeached by a two-thirds majority vote of both houses of parliament - the lower and the senate - under the Nigerian constitution.
The vote is the latest in a series of moves by MPs to embarrass Obasanjo
However, the leader of the opposition Alliance for Democracy told AFP news agency that it was unlikely there would be time to impeach Mr Obasanjo before next year's elections.
Our correspondent says the motion is an indication of the frustrations of many that little has been done since the corrupt excesses of the military era to bring the worst offenders to book.
He says not a single significant public official in or out of office has been convicted of fraud-related crime during Mr Obasanjo's three-year tenure.
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