Extravagant Expenditure Revealed In President Tinubu’s N2.17 Trillion Supplementary Budget

Daud Olatunji

Details of President Bola Ahmed Tinubu’s ambitious N2.17 trillion supplementary budget proposal sent to the National Assembly have emerged, shedding light on exorbitant spending plans for the State House, Air Fleet, SUVs, and even the unconstitutionally recognized Office of the First Lady.

The title of the 2023 Supplementary budget Bill is “A Bill for an Act to authorize the issuance of N2,176,791,286,033 from the Consolidated Revenue Fund of the Federation.

In a jaw-dropping revelation, the Federal Government intends to allocate a whopping N28 billion for the State House, with a significant portion earmarked for a N4 billion renovation of the presidential residential quarters.

 The vice president’s residence is not spared from the extravagance, as N2.5 billion is set aside for its renovation.

The presidential garage is set to be filled with luxury, with N2.9 billion budgeted for the acquisition of Sport Utility Vehicles (SUVs) for the Presidential Villa. 

Another N2.9 billion will go towards replacing operational vehicles for the presidency, further fueling public outrage.

Perhaps the most controversial aspect of this budget is the allocation of N1.5 billion for vehicles dedicated to the Office of the First Lady, a position that is not constitutionally recognized.

 This has raised eyebrows and intensified the debate surrounding the validity of such an office.

The Presidential Air Fleet also receives a staggering N12.5 billion for maintenance and upgrades. 

The fleet comprises a luxurious lineup, including a Boeing Business Jet, Gulfstream jets, Falcons, and helicopters. 

Recent criticism emerged when the president’s son, Seyi Tinubu, used a presidential jet for a private trip to the Kano International Polo Tournament.

This supplementary budget request was swiftly presented to the National Assembly for approval, just days after it was approved by the Federal Executive Council. 

The urgency of this approval, despite numerous fiscal challenges faced by Nigerians, is raising concerns.

The House of Representatives has already passed the 2023 Supplementary budget proposal for its second reading. 

Tinubu, had forwarded the request along with the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper.

The N2.17 trillion supplementary budget consists of N18 billion for Statutory transfers, N992.8 billion for Recurrent (non-debt) expenditure, and a whopping N1.16 trillion allocated for Capital Expenditure until December 31, 2023.

The House Leader, Prof Julius Ihonvbere, presented the bill for the second reading, which was subsequently passed by the House following a voice vote conducted by Speaker Dr. Abbas Tajuddeen. 

This budget’s approval process is setting records, with many Nigerians concerned about the government’s lavish spending amidst pressing economic challenges

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