N54.2 Trillion: Peter Obi Frowns At Increase In 2025 National Budget

Posted by Nwa Diokpa Featured, Latest Headlines, News Across Nigeria Friday, February 7th, 2025

(AFRICAN EXAMINER) – The presidential candidate of the Labour Party, LP, Peter Obi, has stated that there is no actual breakdown of expenditures that will justify the increase in the 2025 national budget.

The statement of Peter Obi, who was also a former governor of Anambra State, comes after President Bola Tinubu, on Thursday, increased the appropriation bill for the 2025 fiscal year from N49.7 trillion to N54.2 trillion.

The African Examiner had reported that Tinubu announced the increment in separate letters, which he sent to both the Senate and the House of Representatives.

Reacting to this development, Obi stated that Nigerians need to know how the resources generated are being shared for the sake of transparency and accountability.

Obi, in a statement he on his X handle on Friday stated that it is necessary for the Federal Government to give the breakdown to make sure that the money allocated was judiciously spent on the country’s development and also the well-being of the people.

He writes: “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.”