Amid hardship, presidency spends N14bn on official trips, presidential quarters among others

A recent review of public expenditures by the Nigerian government reveals that the Bola Tinubu-led Presidency allocated approximately N14 billion for various activities between May and July 2024. This spending covered the renovation of Presidential quarters, honoraria, official trips, and foreign exchange purchases.

The review indicates that on July 19, the Presidency disbursed N150 million for Presidential trips and related expenses. Additionally, on July 17, a substantial N1.6 billion was spent on foreign currency purchases. On July 15, the honorarium payments amounted to N61.1 million, and on July 13, the costs included N38.9 million for forex purchases and N90.4 million for honoraria. The expenditure for Presidential trips on this day was N350 million.

Further details show that on May 31, the renovation, acquisition, and rehabilitation of the forfeited quarters at Guzape cost N1.354 billion, while similar activities at Mabushi amounted to N773 million. The total expenditure on renovating the President’s quarters was N1.877 billion. On the same day, N3.5 billion was used for constructing an office complex within the State House, and N2.827 billion was spent on refurbishing the Vice President’s official quarters.

On May 29, N350 million was allocated for Presidential trips and related expenses, and N400 million was spent on honoraria. Earlier, on May 17, the Presidency expended N177.2 million on honoraria, N169 million on foreign currency, and N271.5 million on trips.

This spending review has sparked scrutiny, particularly in light of Nigeria’s ongoing fiscal challenges and reported shortages of funds. The expenditures occur amidst official assurances of financial prudence and effective management of limited resources.