The presidential candidate of Labour Party in the 2023 polls, Peter Obi, on Friday called for greater transparency and accountability as a result of the recent increase in the Budget of Restoration to ₦54 trillion due to reported revenue growth.
Obi made the call in a statement on X, noting that while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.
The LP chieftain stressed the need for Nigerians to be informed on how public funds are allocated and spent.
“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,” Obi said.
According to the former Anambra governor, budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.
He said Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023.
While urging the government to provide clarity on how the funds from that budget have been utilized, he wants the “National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.”
He also called on lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration,
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.
“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 stated.
Obi’s demand comes two days after President Bola Tinubu hiked the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
Tinubu conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by the Senate President, Godswill Akpabio.
The President disclosed 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.
