Former Labour Party presidential candidate, Mr. Peter Obi, has raised concerns over the recently increased 2025 national budget, stating that “there is no corresponding breakdown of expenditures to justify the increase.”
His remarks come in response to President Bola Tinubu’s Thursday announcement, which saw the 2025 appropriation bill surge from N49.7 trillion to N54.2 trillion.
Tinubu communicated the increment through separate letters addressed to both the Senate and the House of Representatives.
Reacting to the development, Obi emphasized the need for transparency and accountability, asserting that Nigerians deserve a clear explanation of how the nation’s revenue is being allocated.
According to him, this clarity is essential to ensure that the funds are judiciously spent on national development and the well-being of the people.
Taking to his X handle on the 7th of February, 2025, Obi reminded Nigerians that they were still awaiting a detailed report on the execution and expenditures of the Renewed Hope budget, which was passed in December 2023.
He urged the National Assembly to seize the moment by demanding and publishing the full details of the 2024 budget to promote openness in governance.
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.
“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.
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“I call on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of the 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.”
With the Nigerian economy facing critical challenges, Obi’s call for transparency resonates with many citizens who seek clarity on how government revenues are being utilized. The ball now lies in the National Assembly’s court to ensure that accountability remains a top priority in budgetary matters.