FG’s Extravagant Spending: ₦1Billion And ₦650M Tinubu’s Trip and Presidential Honorarium
An investigative report by SaharaReporters has shed light on Nigeria’s lavish expenditures, raising eyebrows and fueling discussions. Here are the key findings:
1. Tinubu’s Pricey Trip to Ethiopia:
– In February 2024, President Bola Tinubu’s trip to Addis Ababa for the African Union summit cost a staggering N1.041 billion.
– Records reveal that on February 9, 2024, $692,265 was exchanged for this hefty sum to fund the trip.
– Concerns arise over excessive spending on international travel, especially amid calls for cost reduction in governance.
2. Presidential Honorarium and Transportation:
– Between February 24 and March 15, 2024, the Presidency incurred N650 million for “presidential honorarium and transportation.”
– An honorarium is a voluntary payment made as appreciation for services rendered, not legally or customarily expected.
– The substantial cost within just 21 days raises questions about fiscal responsibility.
3. Budget Cuts and Transparency:
– In January 2024, the President reduced travel delegations by 60% to curb expenses.
– However, it remains unclear how much the Ethiopian trip would have cost without this reduction.
– We previously highlighted how N473 million was spent on First Lady Oluremi Tinubu’s trips to Mozambique, the United Kingdom, and Ethiopia.
4. Revenue Challenges and Labor Demands:
– Nigeria’s low revenue generation prompts concern and scrutiny.
– Organized labor pushes for a minimum wage increase, leading to disagreements with the government due to financial constraints.
– SaharaReporters emphasizes the need for transparency and accountability in public financial management.
As citizens seek answers, the spotlight remains on responsible spending and effective governance.
