The 2023 presidential candidate of the Labour Party, Peter Obi has expressed his dissatisfaction with the decision by President Bola Tinubu to increase the 2025 budget from N49.7 trillion to N54.2 trillion.
The Eagle Online reports that President Tinubu, on Wednesday, raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
Tinubu conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by the Senate President, Godswill Akpabio.
According to the president, the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service and ₦1.8 trillion generated by other government-owned agencies
Reacting to the development, Obi called for greater transparency and accountability for the increase in the Budget of Restoration to ₦54 trillion due to reported revenue growth.
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In a statement on Friday via X, Obi noted that while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.
He emphasised the need for Nigerians to be informed on how public funds are allocated and spent.
“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,” Obi said.
He stressed that budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.
Obi also pointed out that Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023.
He urged the government to provide clarity on how the funds from that budget have been utilized.
“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.
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” Obi stated.
Obi urged lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration,
“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,” he added.
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