Former presidential candidate Peter Obi has raised concerns over the recent increase in the 2025 Budget of Restoration, now totaling ₦54.2 trillion, questioning the lack of transparency in how the funds will be allocated.
In a statement on Friday via X (formerly Twitter), Obi acknowledged the reported revenue growth but pointed out that while the sources of additional income were detailed, there was no corresponding breakdown of expenditures. He emphasized that Nigerians deserve full disclosure on how public funds being utilized.
“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 underscored the importance of directing government spending toward key sectors such as education, healthcare, security, and poverty alleviation, stressing that budgetary decisions should have a tangible impact on citizens’ lives.
Obi also reminded Nigerians that the government has yet to provide a full breakdown of the execution and expenditures of the Renewed Hope Budget, which was passed in December 2023. He urged the National Assembly to demand and make public the details of how those funds were spent.
“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. Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” he added.
As discussions on the 2025 Budget of Restoration continue, Obi called on lawmakers and government officials to uphold openness and accountability to safeguard public trust.
“We owe it to ourselves, our children, and the future of our great nation to ensure transparency in our financial governance,” he said.
President Bola Tinubu had, on Wednesday, announced an upward revision of the proposed 2025 budget, increasing it from ₦49.7 trillion to ₦54.2 trillion. The adjustment, according to Tinubu, was driven by increased revenues:
- ₦1.4 trillion from the Federal Inland Revenue Service (FIRS)
- ₦1.2 trillion from the Nigeria Customs Service
- ₦1.8 trillion from other government-owned agencies
These details were conveyed in letters sent to both the Senate and the House of Representatives, which were read during plenary by Senate President Godswill Akpabio.