Obi Demands Transparency, Urges FG to Clarify ₦54 Trillion Restoration Budget Allocations

Former presidential candidate and Labour Party chieftain, Peter Obi, has called for greater transparency and accountability in Nigeria’s budgeting process, following reports of an increase in the 2025 Budget of Restoration to ₦54 trillion.

In a statement posted on his official X (formerly Twitter) page at the early hours of Thursday morning, Obi questioned the lack of a detailed breakdown of expenditures to justify the budget increase. While the sources of revenue were outlined, he noted that Nigerians deserve to know how these funds will be allocated to ensure they serve national development and improve citizens’ well-being.

“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 emphasized that budgetary allocations should prioritize critical sectors such as education, healthcare, security, and poverty alleviation. Additionally, he urged the federal government to provide a comprehensive report on the execution and expenditures of the Renewed Hope budget passed in December 2023.

Recall that on Wednesday, President Tinubu sent a letter of the said 2025 proposed budget increase to the Senate for review and approval. The 9% increase rose from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies; ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service and ₦1.8 trillion generated by other government-owned agencies. The president 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 proposed budget increment of the appropriation bill has sparked reactions among Nigerians and economists.

Read also: https://symfoninews.com/54-2trn-economists-reacts-to-tinubus-increased/

Obi called on the National Assembly to demand and make public the full details of the 2024 Renewed Hope budget, stressing that transparency is crucial for accountability, learning from past budgets, and making informed decisions for Nigeria’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 added.

His statement comes amid growing public concerns about government spending, with many Nigerians demanding more transparency in budget implementation to ensure funds are used effectively for national development.

Obi’s remarks have sparked conversations online, with many Nigerians echoing his call for accountability. Meanwhile, it remains to be seen whether the National Assembly will respond to his request by making budgetary details public.

“Just a few search will have saved you the embarrassment Mr Obi. The detailed breakdown is in the public. When I saw it, I was very glad concerning the increase because it is geared towards expanding the economy. I now believe you don’t really know what is going on in Nigeria” an X user responded.