Former presidential candidate of the Labour Party, Peter Obi, has called for enhanced transparency and accountability following the recent increase in the Budget of Restoration from ₦49.7 trillion to ₦54.2 trillion, attributed to reported revenue growth.
In a statement released on Friday via X, Obi acknowledged that while the sources of the revenue were outlined, there was a lack of corresponding details on the expenditures that justify the budgetary increase.
He stressed that it is crucial for Nigerians to be informed about how public funds are allocated and spent. “For the sake of transparency and accountability, Nigerians need to know how the resources generated from them are being utilized to ensure they are spent judiciously on the country’s development and the well-being of its people,” Obi said.
Obi emphasized that the budget should focus on critical development areas such as education, healthcare, security, and poverty reduction, ensuring that it brings real benefits to the citizens.
He also pointed out that Nigerians are still awaiting a comprehensive account of how the funds from the Renewed Hope budget, passed in December 2023, have been used.
The former presidential candidate urged the government to clarify how the resources from this budget have been deployed. “I call on the National Assembly to seize this opportunity to obtain and publicly disclose the full details of the 2024 Budget of Renewed Hope. Transparency in this matter is vital to ensuring accountability, learning from past budgets, and making informed decisions for the nation’s future,” he stated.
Obi further urged lawmakers and government officials to prioritize transparency and accountability as they prepare for the 2025 Budget of Restoration. “As we work towards passing the 2025 Budget of Restoration, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our nation,” he concluded.
On Wednesday, President Bola Tinubu announced an increase in the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
The president conveyed this budget revision in separate letters to the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
The increase is attributed to an additional ₦1.4 trillion in revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion generated by other government agencies.
