Presidency Spends ₦5.1 Billion On Purchase Of Another 26 Vehicles To State House

Tinubu Presidency Spends N5.1billion On Purchase Of Another 26 Vehicles To State House In Three Weeks

Document from the public payments portal, Govspend, has shown that the Nigerian presidency under Bola Tinubu spent N5.1billion on buying cars between August 18 and September 9, representing 21 days or three weeks.

Data published on the Govspend website showed that the State House paid N3.4billion on August 18, for the purchase of sixteen numbers of 2023/2024 model Toyota Prado, to the State House, Abuja.

This would mean that each Prado costs N212million.

On September 9th 2024, N1.7 billion was spent to purchase 10 units of Toyota Camry V4, 2023, to the State House.

This would mean that each Toyota Camry cost the government N170 million.

SaharaReporters’ review of Public Payments platform Open Treasury portal earlier showed that the Tinubu-led Presidency under the tag “State House” spent the sum of N9.2billion on motor vehicles between in March and May 2024.

This would mean that with the N5.2billion spent between August 18 and September 9, joined to the N9.2billion spent between March and May, 2024, the presidency spent N14.4billion on motor vehicles.

Nigeria currently battles with issues around revenue, relying heavily on loans to fund their budget.

SaharaReporters recently reported that Nigeria’s debt profile grew by over N46trillion under the current administration of Bola Tinubu.

Debt servicing which is also a result of reliance on loans also gulped N4.4trillion as of second quarter of 2024.

Source:- Saharareporters