Former Labour Party presidential candidate, Peter Obi, has slammed the Federal Government over what he describes as “fiscal recklessness” in managing Nigeria’s national budgets. Obi raised concerns over the simultaneous implementation of budget items from multiple fiscal years, questioning which budget the country is currently operating under ahead of the 2026 budget approval by the Senate on March 17.

Obi highlighted that since 2023, Nigeria has seen the introduction of several budgets, starting with a N21.83 trillion budget, followed by a N2.17 trillion supplementary budget, and subsequently N35.06 trillion for 2024 and N54.99 trillion for 2025. He argued that these overlapping budgets prioritize benefits for public office holders while leaving many Nigerians facing economic hardship. According to Obi, overall budget implementation has remained below 50 percent, creating a crisis of credibility in public finance.

The former Anambra State governor also criticized the government’s repeal and re-enactment of the 2024 and 2025 budgets with extended timelines, noting that details of revised capital projects were not made public. He further condemned the lack of transparency, pointing out that treasury reports are no longer published on OpenTreasury.gov.ng, and no budget implementation report was released in 2025, undermining accountability in public spending.

Obi warned that Nigeria cannot succeed under such fiscal practices, calling for a return to discipline and transparency in budget management. “No nation can operate with such recklessness and succeed,” he said, urging the government to restore proper oversight and public scrutiny to safeguard the country’s economic future.