Former presidential candidate Peter Obi has urged greater openness and accountability following the recent rise in the Restoration Budget to ₦54 trillion due to revenue growth.
Obi stated on Friday, via X, that while revenue sources were revealed, there was no equivalent analysis of expenditures to explain the budget rise.
He underlined the importance of keeping Nigerians informed about how public funds are distributed and utilised.
“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 said.
He emphasised that financial spending should be directed towards essential sectors of development such as education, healthcare, security, and poverty alleviation in order to have a real influence on citizens’ lives.
Obi further stated that Nigerians are still waiting for a thorough report of the execution and spending of the Renewed Hope budget, which was passed in December 2023.
He emphasised that financial spending should be directed towards essential sectors of development such as education, healthcare, security, and poverty alleviation in order to have a real influence on citizens’ lives.
Obi further stated that Nigerians are still waiting for a thorough report of the execution and spending of the Renewed Hope budget, which was passed in December 2023.
He advised the government to provide clarity on how the funds from that budget have been utilised.
“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,” Obi stated.
Obi encouraged lawmakers and government officials to prioritise transparency and accountability to protect public trust as preparations begin for the 2025 Restoration Budget.
“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 increased the planned 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing increased earnings from major government departments.
The president communicated the budget adjustment in separate letters to the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
Tinubu attributed the increase to ₦1.4 trillion in new revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion earned by other government-owned institutions.
