Former Labour Party (LP) presidential candidate, Peter Obi, has raised concerns over the ₦54.2 trillion national budget for 2025, questioning the lack of a corresponding expenditure breakdown to justify the increase.
NaijaReporter reported that President Bola Tinubu had earlier announced an upward revision of the 2025 appropriation bill, increasing it from ₦49.7 trillion to ₦54.2 trillion.
The president conveyed the adjustment in separate letters sent to both the Senate and the House of Representatives.
Reacting to this development, Obi stressed the need for greater transparency and accountability in the allocation of national resources.
The former Anambra State Governor insisted that Nigerians deserve to know how public funds are being utilized to ensure they are directed toward the country’s development and citizens’ welfare.
In a statement shared on his X handle on Friday, the former Anambra State governor pointed out that Nigerians were still awaiting a detailed report on the execution and expenditure of the Renewed Hope Budget passed in December 2023.
Call for Budget Breakdown
Obi urged the National Assembly to seize the opportunity to obtain and disclose the full details of the 2024 budget, emphasizing the importance of openness in public spending.
“Yesterday, I read about the increase in the Budget of Restoration to ₦54 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,” Obi stated.
He emphasized that such expenditures should be strategically allocated to critical sectors such as:
- Education
- Healthcare
- Security
- Poverty alleviation
“Such expenditures should be directed toward critical areas of development; education, healthcare, security, and poverty alleviation,” the LP chieftain added.
Transparency for National Progress
Obi further stressed the need for accountability in government spending, urging lawmakers to provide clarity on how the Renewed Hope Budget has been executed.
“Furthermore, Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget passed in December 2023 to ensure that it has been properly utilized for the country’s future development and the well-being of its citizens.
“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,” he said.
As the Budget of Restoration for 2025 is being finalized, Obi called on policymakers to prioritize openness and accountability, stressing that responsible governance is essential for securing the nation’s future.
“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”