Former presidential candidate Peter Obi has urged for greater transparency and accountability in government spending following the recent increase in the Budget of Restoration to ₦54 trillion, attributed to reported revenue growth.
In a statement on Friday via X, Obi expressed concern that while the sources of revenue were detailed, the corresponding breakdown of expenditures to justify the budget increase was lacking. He emphasized that Nigerians deserve to know how public funds are allocated and spent.
“For the sake of transparency and accountability, Nigerians need to understand how resources generated from them are being allocated, ensuring they are spent wisely on the country’s development and the well-being of the people,” Obi said.
He further stressed that budgetary allocations should prioritize critical sectors like education, healthcare, security, and poverty alleviation to ensure tangible benefits for citizens.
Obi also noted that Nigerians are still awaiting a comprehensive account of the implementation and expenditures of the Renewed Hope budget passed in December 2023. He called on the government to clarify how the funds from that budget have been utilized.
“I urge the National Assembly to take this opportunity to acquire and publicly disclose the full details of the 2024 Budget of Renewed Hope. Transparency in this matter is vital for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” Obi stated.
He further called on lawmakers and government officials to prioritize openness and accountability as preparations begin for the 2025 Budget of Restoration.
“As we move towards passing the 2025 Budget of Restoration, let us prioritize transparency, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” he added.
On Wednesday, President Bola Tinubu raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
The president communicated the adjustment in letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
The increase was attributed to ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government-owned agencies.
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