Peter Obi, the Labour Party’s presidential candidate for 2023, called for greater accountability and transparency as a result of the recent increase in the Restoration’s budget to $54 trillion as a result of a rumored increase in revenue.
Obi made the request in a statement on X, noting that the budget increase was justified by the lack of a detailed breakdown of the sources of revenue.
The LP chieftain emphasized the need for public information about how and where money is spent in Nigeria.
Nigerians need to know how resources are being allocated in order to ensure that they are wisely spent on the development of the nation and the people’s well-being, according to Obi.
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.
Yesterday, I read about the increase in the Budget of Restoration to ₦54 trillion due to increased revenue.
There is no comparable breakdown of expenditures to support the increase, despite the detailed information on the sources of this revenue. For the sake of accountability and transparency…
He claimed that Nigerians are still waiting for a detailed report on how the Renewed Hope budget was carried out and how much money was spent.
READ ALSO: Tinubu Increases 2025 Budget To ₦54.2tn
He calls on the government to clarify how the funds used in that budget, but he also wants the “National Assembly to take advantage of this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.”
In order to prepare for the 2025 Budget of Restoration, he also urged lawmakers and government officials to place a premium on transparency and accountability.
“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.
Source: Channels TV
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