Former Labour Party presidential candidate Peter Obi has raised concerns over the transparency and accountability of the newly increased 2025 national budget. Obi questioned the lack of a detailed breakdown of expenditures to justify the rise from N49.7 trillion to N54.2 trillion.
President Bola Tinubu announced the budget increase on Thursday, sending official letters to both the Senate and the House of Representatives. The decision was reportedly made due to an increase in revenue, but Obi insists that Nigerians deserve to know exactly how these funds will be allocated.
In a statement shared on his X handle on Friday, the former Anambra State governor noted that the public is still waiting for a full report on the implementation of the 2024 budget, known as the Renewed Hope budget, which was passed in December 2023. He urged the National Assembly to take this opportunity to demand and release detailed information about how the previous budget was spent.
Obi stated: “Yesterday, I read about the increase in the Budget of Restoration to N54 trillion due to increased revenue. While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. 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.”
He further stressed that government spending should be focused on critical sectors such as education, healthcare, security, and poverty alleviation.
“Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget passed in December 2023 to ensure that it has been properly utilized for the country’s future development and the well-being of its citizens,” Obi noted.
Calling on lawmakers to act, he said: “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 budget.”
Obi believes that transparency in government spending is essential for accountability, learning from past mistakes, and making informed decisions for national progress. He urged leaders to prioritize openness and responsibility, stating that the future of Nigeria depends on it.
“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 concluded.
