By Abiola Olawale
The former presidential candidate of the Labour Party(LP) in the 2023 presidential elections, Peter Obi, has expressed concerns over the decision of President Bola Ahmed Tinubu’s government to jerk up the 2025 Appropriation Bill from N49.7 trillion to N54.2 trillion.
Obi, in a statement posted on his official X handle, questioned the Tinubu government’s rationale and basis for the budgetary increase.
He called for total transparency and accountability in the proposed N54.2 trillion budget for 2025.
According to him, the President failed to give detailed expenditure breakdowns to justify the budget increase from N49.7 trillion to N54.2 trillion.
He emphasized the need for Nigerians to understand how the additional revenue would be allocated to ensure it benefits the country’s development and the welfare of its citizens.
Obi also advocated for the budget to prioritize critical sectors such as education, healthcare, security, and poverty alleviation.
He said: “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”
It would be recalled that Tinubu, had in a letter addressed to the National Assembly and read by the President of the Senate, Senator Godswill Akpabio, sought an additional allocation of N4.53 trillion to N49.7 trillion 2025 Appropriation Bill initially presented to the National Assembly on December 18, 2024.
According to Akpabio, the increase arose from N1.4 trillion in additional revenues from the Federal Inland Revenue Service, FIRS; N1.2 trillion made by the Nigeria Customs Service, NCS; and N1.8 trillion generated by some other government-owned agencies.
In the letter, the Nigerian President stated that allocations of N1.5 trillion for the Bank of Agriculture and N1.5 trillion for critical infrastructure projects would enhance food security and economic activity through improved transport systems.
The President also explained that the budget increase includes funds for military housing and aviation, which would improve security, a critical component for national stability and economic growth.
