Tinubu's Travel Expenditure Hits N3.4bn in Six Months, GovSpend Reports

Tinubu’s Travel Expenditure Hits N3.4bn in Six Months, GovSpend Reports

Spread the love

Within the first six months of assuming office, President Bola Tinubu has reportedly spent over N3.4 billion on local and foreign travel, exceeding the N2.49 billion allocated for his travel expenses in the 2023 budget. This figure marks a 36% increase, even though Tinubu inherited the budget midway. Notably, his travel spending between June and December 2023 surpassed the yearly budget provision.

In addition to the travel expenses, President Tinubu approved N3 billion for purchasing three bulletproof Mercedes Benz S-class 580 vehicles and other vehicles for the State House. The President faced criticism last year for sponsoring over 1,000 delegates to the United Nations’ COP28 climate summit in Dubai, with reports indicating a spending of N2.78 billion on airfares and estacodes.

Despite the backlash, last week, the Presidency announced a 60% reduction in Tinubu’s entourage size for domestic and international travels. This move aimed to cut down on costs associated with estacodes and duty allowances.

Data from GovSpend, a civic tech platform tracking government spending, reveals that N1.15 billion was allocated for presidential trips and related expenses in the last six months. This amount excludes estacodes for the President’s entourage. Monthly spending ranged from N82.2 million in June to N69.2 million in December. Notably, N732.8 million was paid to two travel tour companies for purchasing international and local air tickets. Furthermore, N1.53 billion was spent on forex, including $5.1 million and 300 euros for travel expenses.

Despite the government’s defense of these travels for attracting foreign direct investment, critics question their economic impact, especially considering the size of the entourage. Recent data from the National Bureau of Statistics indicates a 43.55% decline in capital importation in the third quarter of 2023, contradicting efforts to attract investments.

Reacting to these developments, the Executive Director of the Civil Society Legislative Advocacy Centre, Auwal Rafsanjani, criticized the Tinubu administration, stating that the government has not been truthful about reducing the cost of governance. Rafsanjani argued that if Tinubu were serious, he would have reduced allocations in the 2024 budget.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *