Former Labour Party (LP) presidential candidate, Peter Obi, has raised concerns over the lack of a detailed breakdown to justify the increase in the 2025 national budget.
Obi’s statement follows President Bola Tinubu’s decision on Thursday to increase the 2025 fiscal year appropriation bill from ₦49.7 trillion to ₦54.2 trillion.
DAILY POST earlier reported that Tinubu communicated the increment to the Senate and the House of Representativesthrough separate letters.
Reacting to the development, Obi stressed the need for transparency and accountability in the allocation of national resources. He stated that Nigerians deserve to know how public funds are being utilized to ensure they are directed toward national development and the welfare of the people.
In a statement released on Friday via his X handle, the former Anambra State governor noted that Nigerians were still awaiting a comprehensive account of the execution of the Renewed Hope Budget passed in December 2023.
He called on the National Assembly to use this opportunity to demand and make public the full details of the 2024 budget.
“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, 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 such as 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.
“I call on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 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,” Obi stated.