![Popular Small-Size Actress Aunty Ajara Dies After Liver Illness [VIDEO]](https://thepunchng.com/wp-content/uploads/2026/02/20241109_125042-75x75.jpg)
Former presidential candidate of the Labour Party, Mr Peter Obi, has strongly criticised the Federal Government over what he described as fiscal recklessness in the handling of Nigeria’s national budgets.
In a statement shared on his official X (formerly Twitter) account on Monday, Obi questioned which budget Nigeria is currently operating, ahead of the Senate’s expected approval of the 2026 national budget on March 17.
Concerns Over Multiple Budgets Running Simultaneously
Obi expressed alarm that since 2023, Nigeria has been implementing budget components from multiple fiscal years at the same time, a situation he described as abnormal and damaging to effective public finance management.
According to him, President Bola Tinubu inherited a ₦21.83 trillion budget in 2023, which was later followed by a ₦2.17 trillion supplementary budget. Obi argued that the supplementary spending largely favoured public office holders, despite widespread economic hardship faced by ordinary Nigerians.
Over ₦114 Trillion Approved in Less Than Three Years
The former Anambra State governor further noted that the trend continued with the approval of ₦35.06 trillion for 2024 and ₦54.99 trillion for 2025, bringing total appropriations under the current administration to over ₦114 trillion in under three years.
Despite the massive spending, Obi lamented that budget implementation has remained below 50 per cent, resulting in what he described as a credibility crisis in Nigeria’s public finance system.
Transparency and Accountability in Question
Obi also criticised the Federal Government’s decision to repeal and re-enact the 2024 and 2025 budgets with extended timelines, noting that Nigerians were not provided with details of the revised budgets or the capital projects contained in them.
He accused the government of lacking transparency, alleging that treasury reports are no longer published on the OpenTreasury.gov.ng platform and that no budget implementation report was released in 2025.
“This lack of transparency is not accidental; it reflects a deliberate pattern of undermining public scrutiny and debate,” Obi said.
“The Federal Government has stopped publishing treasury reports on the OpenTreasury.gov.ng portal, dismantling a vital transparency framework inherited from the previous administration.
“In 2025, no budget implementation report was released, regardless of how poor the performance was. No nation can operate with such recklessness and succeed.”
Call for Fiscal Discipline
Obi concluded by urging the Federal Government to restore discipline, transparency, and accountability in budget management, warning that continued fiscal mismanagement poses a serious threat to Nigeria’s economic future.
