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N54.2 trillion budget: Peter Obi questions Tinubu govt on transparency, accountability

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Presidential candidate of the Labour Party, LP, Mr Peter Obi, says there is no corresponding breakdown of expenditures to justify the increase in the 2025 national budget.

The statement comes after President Bola Tinubu, on Thursday, increased the appropriation bill for the 2025 fiscal year from N49.7 trillion to N54.2 trillion.

Recall that Tinubu announced the increment in separate letters, which he forwarded to both the Senate and the House of Representatives.

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

This, he said, was to ensure that they were judiciously spent on the country’s development and the well-being of the people.

In a statement issued on Friday via his X handle, the former Anambra state Governor said Nigerians were still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget passed in December 2023.

Obi further called on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget.

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.

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NMDPRA, EFCC Storm Illegal Chinese Refinery in Ogun (Video)

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stormed an illegal Chinese-operated refinery in Ogere-Remo, Ikenne Local Government Area of Ogun State.

The joint operation followed intelligence reports that revealed a well-fenced but crude yet technically sophisticated facility occupying more than three hectares of land.

During the inspection, officials observed underground tanks believed to have been used for heating and processing sludge oil, refining waste products, and substances suspected to be Automotive Gas Oil (AGO), popularly known as diesel. NMDPRA officials immediately sealed the facility.

Ogun State Coordinator of NMDPRA, Dr. Atilola Akinyemi, described the plant as a complete illegality operating without any permit from regulatory authorities.

“The underground storage facility behind the site has an estimated capacity of more than 90,000 litres, complete with underground heating systems, water hydrants for cooling, locally fabricated tanks and silos for separation,” Akinyemi told journalists.

He warned that if such adulterated products entered the market, they would pose serious risks to vehicles and engines. All recovered products have been confiscated by the Federal Government.

Director of the Department of Proceeds of Crime Management at the EFCC, Gbolahan Latona, stressed the need for collective patriotism in tackling economic crimes.

“Upon conclusion of investigation, the suspects will have their day in court and the proceeds of crime will be put to meaningful use,” Latona said.

Watch video below:

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Sanusi: Critics Are Not Enemies Of The Govt

” It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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The Emir of Kano, Alhaji Muhammadu Sanusi II, has advised the Federal Government against treating every comment about the administration as an attack on President Bola Tinubu.

The royal father gave the advise on the occasion of the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tan.

Speaking virtually to the audience at the event, on Tuesday, Sanusi advised the government to tolerate constructive criticism.

“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.

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Urbanisation: Lagos To Fall Behind Luanda as sub-Saharan Africa’s biggest city by 2050

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

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A report conducted by the World Bank and the European Commission’s Joint Research Centre, has projected that Angola’s capital, Luanda,will overtake Lagos as sub-Saharan Africa’s most populous city by 2050, rising by 78 percent from 11.4 million to 20.3 million.

The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.

The report estimated that Luanda’s population would increase from 11.4 million in 2025 to 20.3 million in 2050, adding 8.9 million residents over the period.

Lagos, the region’s most populous city in 2025 with an estimated 12.8 million residents, is projected to grow to 16.2 million by 2050, an increase of more than 25 percent.

Despite the growth, Lagos is expected to fall behind Luanda, whose population is projected to exceed that of Nigeria’s commercial hub by 4.1 million.

“Over this period, the population of Angola’s capital city, Luanda, is projected to increase by 78 percent from 11.4 million to 20.3 million.

In doing so, Luanda will overtake Lagos as SSA’s most populous city,” the report said.

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