Wasteful spendings as presidency spends N366m on bulletproof tyres in 3 days

A recent review of the Govspend public payments portal by news outlets has uncovered substantial spending on tyres by the presidency under President Bola Tinubu. The findings reveal that a total of N366 million was expended on tyres within a span of just three days, with payments recorded on May 21, 2024, June 22, 2023, and June 24, 2023.

On June 22, 2023, a single payment of N42.8 million was made for tyres specifically for the State House. The following day, June 24, 2023, saw an expenditure of N86.2 million for tyres, described as ‘Purchase of Tyres to State House’. Additionally, two payments were made on May 21, 2024: N38 million was allocated for the supply of five armoured/bulletproof tyres (s600/222, 255-720-r490ac), and N200.5 million was spent on tyres for bulletproof vehicles for the State House in Abuja.

In total, the presidency spent N366 million on tyres within these three days, according to the Govspend portal.

These expenditures have sparked concerns about the transparency and effectiveness of public spending under the current administration. The revelations contribute to growing scrutiny regarding the Tinubu administration’s spending priorities amid Nigeria’s revenue shortfalls, increasing debt, and high debt servicing costs. Despite claims of fiscal responsibility, experts suggest that the government’s spending patterns reflect a significant gap in achieving true fiscal discipline.