Under President Bola Ahmed Tinubu’s administration, the State House has spent over ₦3.7 billion on vehicles and tyres, findings have revealed.
An investigation using data from Govspend, a portal tracking government expenditures, showed that the Presidential Villa made four payments on May 21 and 31—coinciding with the week of Tinubu’s first anniversary in office—totaling ₦3,461,909,471.
These payments went to Laralek Ultimate Limited and an unspecified beneficiary.
According to BudgIT, a civil society organization dedicated to promoting transparency and citizen engagement, the total allocation for the State House is ₦40.62 billion, with ₦28.12 billion designated for capital expenditure.
Over the years, Nigeria has increasingly relied on borrowing, with external debt reaching ₦127.67 trillion as of the first quarter of 2024.
However, critics have accused the Tinubu administration of “frivolous spending” despite urging citizens to endure current hardships and policies that primarily affect the masses.
Currently, Nigeria’s inflation rate exceeds 33%, exacerbating the cost of living, a situation widely attributed to some of President Tinubu’s policies.
Data from Govspend reveals that payments totaling ₦1,904,388,461, ₦1,200,000,000, ₦200,000,000, and ₦63,818,416 were made to Laralek Ultimate Limited for the purchase of operational SUVs and pool vehicles for the State House.
Additionally, ₦93,702,594.08 was paid for supplying vehicles to the National Centre for the Coordination of Early Warning and Response Mechanism.
The specific car brands and models were not detailed in the payment narrations on the portal.
A similar report revealed that the Nigerian State House spent ₦244,654,350 on tyres in a single day.
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Data Credit – Daily Trust, govspend