Former Labour Party (LP) presidential candidate, Mr. Peter Obi, has expressed concerns over the lack of detailed expenditure breakdown to justify the increase in Nigeria’s 2025 national budget.
His statement follows President Bola Tinubu’s decision on Thursday to raise the 2025 fiscal year’s appropriation bill from N49.7 trillion to N54.2 trillion.
Tinubu communicated this increase through separate letters sent to both the Senate and the House of Representatives.
Reacting to this development, Obi emphasized the importance of transparency and accountability in managing public funds. He stressed that Nigerians deserve to know how government resources are allocated to ensure they are properly utilized for national development and the citizens’ welfare.
In a statement released on Friday via his X handle, the former Anambra State governor pointed out that Nigerians were still awaiting a detailed report on the execution and expenditures of the Renewed Hope budget, which was passed in December 2023.
Obi further urged the National Assembly to use this opportunity to obtain and disclose the full details of the 2024 budget.
He said:
“Yesterday, I read about the increase in the Budget of Restoration to N54 trillion due to increased revenue.
“While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. For transparency and accountability sake, Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people.
“Such expenditures should be directed toward critical areas of development; education, healthcare, security, and poverty alleviation.”
He reiterated that Nigerians were still waiting for a comprehensive report on how the Renewed Hope budget of December 2023 had been implemented to ensure it was effectively used for the country’s progress and citizens’ welfare.
“I call on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.
“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation.” – PO
