N9.2 Billion Spent On State House Vehicles’ By Tinubu Presidency In Three Months As Citizens Face Economic Struggles

N9.2 Billion Spent On State House Vehicles’ By Tinubu Presidency In Three Months As Citizens Face Economic Struggles....KINDLY READ THE FULL STORY HERE▶

A review of the Open Treasury portal has revealed that President Bola Tinubu’s administration spent N9.2 billion on motor vehicles under the “State House” between March and May 2024. The breakdown shows that N1.904 billion was allocated for vehicle purchases in March 2024, followed by a substantial N7.3 billion in May, culminating in the total expenditure of N9.2 billion over the three-month period…….CONTINUE READING 

SaharaReporters previously reported that the Tinubu administration also spent N366 million on tires within just three days, highlighting what many view as frivolous expenditures. This amount included N42.8 million spent on June 22, 2023, for “State House” tires, and N86.2 million for additional tire purchases on June 24. On May 21, 2024, the presidency spent N38 million on five armored bulletproof tires, alongside another payment of N200.5 million for tires for bulletproof vehicles for the State House.

In total, the presidency’s tire purchases reached N366 million in just three days, according to data from the Govspend platform. Earlier reports by SaharaReporters noted that the Tinubu administration had spent billions on foreign exchange for travel and renovations of presidential buildings, including a notable N1.5 billion for foreign exchange on July 17, 2024.

These expenditures have intensified scrutiny regarding the current administration’s fiscal discipline, especially amid ongoing concerns about the government’s management of its limited resources. This comes at a time when the Nigerian government is seeking debt relief, underscoring the urgent need for improved revenue management.

As of the first quarter of 2024, Nigeria’s debt has reached N121 trillion, compounding the challenges posed by inflation and poor economic conditions. Experts have warned of severe consequences if the government does not rein in its spending habits. Nigeria continues to face significant challenges in providing access to healthcare, clean water, reliable roads, and electricity—areas where stakeholders argue that government resources could be more effectively utilized.