Presidential candidate of the Labour Party in the 2023 elections, Peter Obi has called for greater transparency and accountability following the recent hike in Nigeria’s “Budget of Restoration” to N54 trillion, attributed to increased revenue.

Obi made the call in a statement on X, emphasizing that while the sources of the revenue were outlined, there was 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,” Obi stated.

The former Anambra State governor further highlighted the need for the government to direct spending towards critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on the lives of Nigerians.

“Such expenditures should be directed toward critical areas of development; education, healthcare, security, and poverty alleviation,” Obi added.

He also raised concerns about the “Renewed Hope” budget passed in December 2023, urging the government to provide clarity on how funds from that budget have been utilized.

He called on the National Assembly to obtain and make public the full details of the 2024 budget.

“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress,” Obi said.

The demand came two days after President Bola Tinubu announced a hike in the 2025 proposed budget from N49.7 trillion to N54.2 trillion, citing increased revenues from the Federal Inland Revenue Service, Nigeria Customs Service, and other government-owned agencies.

Tinubu informed both the Senate and the House of Representatives of the adjustment in separate letters read during Wednesday’s plenary.

As the country prepares for the 2025 Budget of Restoration, Obi stressed the importance of openness, accountability, and prioritizing the welfare of Nigerians.