According to Mr. Peter Obi, the former Labour Party (LP) presidential candidate, there is no matching breakdown of expenses to support the 2025 national budget increase.
The announcement follows President Bola Tinubu’s Thursday hike of the 2025 fiscal year appropriation bill from N49.7 trillion to N54.2 trillion.
According to reports, Tinubu addressed separate letters to the Senate and the House of Representatives announcing the raise.
In response to the development, Obi stated that for the purpose of accountability and openness, Nigerians must be aware of how the resources produced are being distributed.
He claimed that this was to make sure that they were wisely allocated to the advancement of the nation and the welfare of its citizens.
In a statement made on Friday via his X handle, the former Anambra state Governor said Nigerians were still waiting for a thorough account of the execution and expenditures of the Renewed Hope budget passed in December 2023.
Obi further urged on the National Assembly to utilize this opportunity to gather and make public the complete provisions of the 2024 budget.
He 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.
“Such expenditures should be directed toward critical areas of development; education, healthcare, security, and poverty alleviation.
“Furthermore, 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.
“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.
“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. -PO”
