Peter
Thank you for reading this post, don't forget to subscribe!Peter Obi, the presidential candidate for the Labour Party in the 2023 elections, on Friday urged for greater transparency and accountability in the ₦54 trillion 2025 Budget of Restoration, following the reported revenue growth. In a statement on X, Obi expressed concern that while the sources of revenue were outlined, there was no corresponding breakdown of expenditures to justify the significant budget increase.
Obi emphasized the need for Nigerians to be informed on how public funds are being allocated and spent. He said, “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.”
The former Anambra governor stressed that budgetary expenditures should prioritize critical areas such as education, healthcare, security, and poverty alleviation to ensure that the budget has a meaningful impact on the lives of citizens. He also noted that Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023.
Obi further called on the government to clarify how funds from that budget have been utilized, urging the National Assembly to make the full details of the 2024 budget public. He also urged lawmakers and government officials to prioritize openness and accountability as the 2025 Budget of Restoration is prepared.
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” Obi stated. “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’s call comes after President Bola Tinubu increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generated by key government agencies. This adjustment was conveyed by Tinubu in separate letters to both the Senate and House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio. The President explained that the increase was driven by ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion generated by other government agencies.
