N150bn Presidential Jet, N5bn Yacht, and Other Lavish Spending Under Tinubu Administration

Concerns mount as the Tinubu government faces scrutiny over extravagant expenditures, including a N150 billion presidential jet and a N5 billion yacht, raising questions about fiscal responsibility.”

The acquisition of a new presidential jet by the Bola Tinubu administration continues to evoke public fury.

The allocation of over N150 billion by the government for aircraft purchase during a challenging economic period and persistent cost-of-living predicaments has sparked intense frustration among Nigerians.

Experts attribute the current inflation to Mr. Tinubu’s policies of subsidy removal and exchange rate unification, which have resulted in a hike in commodity prices.

Over the course of the last year, Nigerians have been urged by their president to endure and persevere through any hardships that may arise as a result of said policies.

Despite its own advice, the government seems unenthusiastic about implementing it as inflation is presently at 33 percent.

Jet that belongs to the President

According to reports, the Nigerian government spent over $100 million on replacing the 19-year-old Boeing B737-700(BBJ) purchased during Olusegun Obasanjo’s presidency with an Airbus A330.

Many Nigerians have criticized the government’s insensitivity after purchasing a luxurious jet despite securing approval from the House Committee.

Despite the National Assembly’s assertion that funds haven’t been allocated for its purchase, the president has already flown on the jet to France.

Senate President Godswill Akpabio has been unwavering in his commitment to provide the necessary approval for completing the purchase.

“Considering the level of biting hunger and poverty in the land, I fail to comprehend how purchasing a fitting aircraft for the president could be deemed as feasible by a government,” stated Oby Ezekwesili, an ex-minister. She made this comment during her appearance on Sunday’s episode of ‘Politics Today’ on Arise Television.”

Yacht used by the President

The government faced notable criticism last year due to their proposed acquisition of a yacht for the president.

President Tinubu included a N5 billion proposal for the acquisition of a presidential yacht in the 2023 supplementary budget, which amounted to N2.17 trillion.

The National Assembly declined the request and allocated the funds to other expenses due to the controversy surrounding the proposal.

Various sources claim that the yacht had already reached the country by then, but there has been no official confirmation or denial from the government.

According to OBASANJONEWS, the Navy is facing pressure from the House of Representatives to return the ship back to its vendor.

Shettima’s House cost N21 billion.

The completion of the Vice President’s official residence reportedly cost N21 billion, which has also stirred controversy since this administration assumed office.

Despite the existence of other pressing infrastructure projects, Nyesom Wike, Minister of FCT made completion of the residential project his top priority.

However, despite the public’s outrage, the minister went ahead and finalized as well as launched the project.

National Assembly Members to Receive Cars Worth N160 Million

Despite the ongoing economic crisis, members of the National Assembly indulged in luxury by acquiring extravagant Sport Utility Vehicles. It is reported that each unit cost N160 million for House representatives.

The Senate’s received items remain vague, but additional ones are anticipated.

According to OBASANJONEWS, some lawmakers chose to receive cash instead of the official cars that were meant to be returned at the end of their administration, despite claims from the House stating otherwise.

Subsidy of N90 billion allocated for Hajj expenses

Ninety billion naira was also allocated by the government for the 2024 Hajj pilgrimage to Saudi Arabia.

The devaluation of the naira resulted in a significant rise in the price of Hajj for the 2024 period. As a consequence, NAHCON had to revise its fee multiple times to accommodate this change.

Afterwards, the government came forward with a subsidy of N90 billion. Nevertheless, various anti-corruption agencies are currently investigating this fund.

Jalal Arabi, along with numerous other management personnel from NAHCON were apprehended by the EFCC for purportedly mishandling N90 billion in subsidies.

Cars worth N1.5 billion purchased for the Office of the First Lady.

The Office of the First Lady in Nigeria has been fraught with complexities, primarily due to some unelected occupants who have a reputation for being overbearing and interfering in governance.

The running of the office, which is predominantly a ceremonial position, also incurs costs.

The government recommended allocating N1.5 billion in the supplementary budget for purchasing office vehicles by 2023.