Nigeria’s former presidential candidate, Peter Obi, has sounded the alarm over the Bola Tinubu administration’s increased N54.2 trillion budget, questioning the government’s commitment to transparency and accountability. As the country grapples with economic uncertainty and fiscal responsibility, Obi’s call for clarity on the budget’s allocation and spending plans has resonated with many Nigerians, who demand to know how their hard-earned tax revenues will be utilized. Will the Tinubu government heed Obi’s plea for openness, or will the budget remain shrouded in secrecy?
Former presidential candidate of the Labour Party, Mr Peter Obi, has stated that there is no adequate breakdown of expenditures to support the increase in the 2025 national budget.
The announcement follows President Bola Tinubu’s decision on Thursday to increase the appropriation bill for the 2025 fiscal year from N49.7 trillion to N54.2 trillion.
The Fount reported that Tinubu announced the increase in separate letters sent to both the Senate and the House of Representatives.
In response to the situation, Obi emphasized the importance of transparency and accountability in the allocation of resources generated in Nigeria. He stated that citizens must be informed about how these resources are being used to ensure they are effectively spent on the nation’s development and the well-being of the people.
In a statement released on Friday through his X account, the former Governor of Anambra State stated that Nigerians are still awaiting a comprehensive report on the execution and expenditures of the Renewed Hope budget that was approved in December 2023.
Obi encouraged the National Assembly to take this opportunity to acquire and publicly disclose the full details of the 2024 budget.
He stated, “Yesterday, I read about the increase in the Budget for Restoration to N54 trillion due to higher revenue. While the sources of this revenue were outlined, there is no corresponding breakdown of expenditures to justify the increase. For the sake of transparency and accountability, Nigerians need to know how these generated resources are being allocated to ensure they are spent wisely 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”
As the country grapples with economic uncertainty and fiscal responsibility, Obi’s call for clarity on the budget’s allocation and spending plans has resonated with many Nigerians, who demand to know how their hard-earned tax revenues will be utilized. Will the Tinubu government heed Obi’s plea for openness, or will the budget remain shrouded in secrecy?
The Fount 
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