Skip to content
August 8, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Political Economist

Political Economist

A liberal News reporting Politics, Sports, Business, Commentaries

  • Home
  • National News
    • Metro News
      • metro
    • Society
    • Crime and Justice
  • Special Reports
    • Investigation
    • Features
    • Interviews
  • Opinion
    • Commentaries
    • Perspectives
  • Press Releases
  • International News
  • Business & Economy
  • Politics
Watch Online
  • Home
  • Business & Economy
  • N3tr budget padding: Come clean, clear all allegations, Obi charges Senate
  • Business & Economy

N3tr budget padding: Come clean, clear all allegations, Obi charges Senate

Admin March 14, 2024
Peter Obi

Peter Obi

Peter Obi
Peter Obi

Labour Party standard bearer, Peter Obi, has admonished the Senate to come clean and clear all the allegations associated with the N3 trillion padding in the 2024 budget.

Obi writing in his X handle on Wednesday told the upper chamber that the public deserves to know the truth about the allegations especially as the Senate and the Executive are having discordant tunes on the matter and fresh allegations cropping up on the sharing of constituency funds in the budget.

According to the former Anambra State Governor,

“The fuss over the alleged N3 trillion padded into the 2024 budget raised by a Senator still rages as the Senate reaction of suspending the whistle-blower has not addressed vital issues emanating from the allegation.

“The Senator is insisting on his allegation and the Executive agreed that there was only N1.2trillion padded not N3trillion as alleged by the Senate.

“Fresh allegations have also cropped up over indiscriminate and unbalanced allocation of constituency projects by the Senate leadership.

“A civic group, Budgit, through their official, have also added their voice to agree with the Senator. They allege that there was no detailed project allocations for about N3.7trn in the 2024 Appropriation Act.

“As the Senate suspension of the senator involved has not addressed the issue, they still owe the Nigerian public a clear clarification over the various claims and counterclaims, including that of the executive arm, to be able to know exactly what is happening, and also disclose to the public, the amounts allocated for constituency projects for appropriate monitoring of implementation by the public.

“I had particularly elucidated in my earlier comment on what we can use the N3 trillion to achieve, by showing that it is more than the national budget of the two most critical components of the human development index, health and education, combined.

“Now that the executive arm has accepted that the padded amount is only N1.2 trillion, it is still a very significant amount, when you consider that it is almost 5 times the N251.47 billion proposed for Universal Basic Education, which is the foundation of education, in the Country.

 

“Today in Nigeria, the greatest challenge to human resource development is education, which has been identified as most critical at the basic level. Nigeria has about 20 million out-of-school children today because of the poor investment in education. These are resources that would have been utilised to ensure that our children are taken off the streets and returned to schools.

“The N1.2 trillion as the executives claimed to have been padded, if channelled to any of the critical areas of development, could have positively impacted the nation and uplifted the people.

“And if indeed the report from the Budget is true, that there is about N3.7 trillion without any detailed project allocations, I strongly urge the Senate to do more detailed work of channelling these funds into the critical areas of development – education, health and pulling people out of poverty, which will in turn, minimise the criminality we are facing today.

“We must, as a matter of urgency, put a stop to all the wastage of our scarce resources, amid the excruciating hardship in the country. Let every penny of our public fund be used for public good. That is the only way to achieve the New Nigeria we are working towards.”

 

  • Facebook
  • Share on X
  • LinkedIn
  • WhatsApp
  • Email
  • Copy Link
Tags: Budget padding BudgIT Peter Obi Senate

Post navigation

Previous EFCC Arrests 45 Suspected Internet Fraudsters , jails one other for Currency Racketeering in Lagos
Next Heirs Technologies appoints Obong Idiong as Chief Executive Officer

Related Stories

Rebound from N30trn in 2023 to N160trn in 3 years, Tinubu commends NGX, Economic Team
  • Business & Economy

Rebound from N30trn in 2023 to N160trn in 3 years, Tinubu commends NGX, Economic Team

August 7, 2026
Economic Summit: Future generations’ prosperity is our goal – Oborevwori
  • Business & Economy

Economic Summit: Future generations’ prosperity is our goal – Oborevwori

August 6, 2026
Tinubu’s policy reforms responsible for strong corporate results: Presidency
  • Business & Economy

Tinubu’s policy reforms responsible for strong corporate results: Presidency

August 6, 2026
logo

Political Economist is a liberal news magazine with global affiliations.

At Political Economist, we promote free enterprise and act as a catalyst for the growth of knowledge economy. We are proudly pan-Nigeria yet richly spiced with African and global news. We offer a fair and balanced news reportage presented by our team of well-heeled professional journalists. <

About us

  • 5 Olutosin Ajayi Street, By CPM Church, Ajao Estate, Lagos State, Nigeria
  • +234 805 680 1124
  • info@politicaleconomistng.com

Follow

Subscribe to notifications

You may have missed

Women’s Cup of Nations quarter-finals to decide Africa’s four World Cup spots
  • National News

Women’s Cup of Nations quarter-finals to decide Africa’s four World Cup spots

August 7, 2026
Oil prices drop as investors weigh potential Hormuz deal between Iran and Gulf states reserves crude oil
  • National News

Oil prices drop as investors weigh potential Hormuz deal between Iran and Gulf states

August 7, 2026
Military kills 9 terrorists in Borno strike, apprehends suspected kidnappers in Plateau Soldiers beat policemen
  • National News

Military kills 9 terrorists in Borno strike, apprehends suspected kidnappers in Plateau

August 7, 2026
Police rescues kidnapped victim, begin manhunt for fleeing suspects in Oyo Police
  • National News

Police rescues kidnapped victim, begin manhunt for fleeing suspects in Oyo

August 7, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Copyright © All rights reserved. | DarkNews by AF themes.