Former presidential candidate Peter Obi has called for greater transparency and accountability 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 acknowledged the outlined revenue sources but criticized the absence of a corresponding expenditure breakdown to justify the budget hike. He stressed the importance of keeping Nigerians informed on how public funds are allocated and spent.
“For transparency and accountability’s 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,” Obi stated.
He underscored the necessity of directing budgetary expenditures toward critical sectors such as education, healthcare, security, and poverty alleviation to ensure a tangible impact on citizens’ lives.
Obi also highlighted that Nigerians are still awaiting a comprehensive account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023. He urged the government to provide clarity on how funds from that budget have been utilized.
“I call on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 Budget of Renewed Hope. Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” he asserted.
As preparations begin for the 2025 Budget of Restoration, Obi urged lawmakers and government officials to prioritize openness and accountability to safeguard public trust.
“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,” 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 budget adjustment in separate letters to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
Tinubu explained that the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion generated by other government-owned agencies.
