From ₦150 Billion Presidential Jet To ₦5 Billion Yacht: Tinubu Govt’s Extravagant Purchases Under Scrutiny

Public discontent continues to grow over the President Bola Ahmed Tinubu administration’s purchase of a new presidential jet.
The government has reportedly allocated over ₦150 billion for the aircraft purchase, a move that has drawn widespread criticism, particularly as Nigerians continue to struggle with a challenging economic climate and an ongoing cost of living crisis.

Policies enacted by President Tinubu, such as subsidy removal and exchange rate unification, have led to price increases for various commodities, contributing to the current inflationary pressures.

Despite the hardships caused by these policies, the president has urged Nigerians to endure the situation. However, the administration seems unwilling to adhere to its own advice, with inflation now at 33%.

This report from Naija News examines some of the most extravagant expenditures by the current government.

Presidential Jet
The Nigerian government has reportedly spent over $100 million on an Airbus A330 to replace the 19-year-old Boeing B737-700(BBJ) acquired during Olusegun Obasanjo’s presidency. This lavish purchase has drawn significant backlash from Nigerians, who view it as a sign of insensitivity.

Even though the National Assembly claimed it has not yet appropriated funds for the purchase, President Tinubu has already used the jet on a trip to France.

Senate President Godswill Akpabio has consistently expressed his readiness to approve any request related to finalizing the purchase.

Former Minister of Education, Oby Ezekwesili, criticized President Bola Tinubu’s decision to purchase a 14-year-old aircraft for use as a presidential jet, stating that there is no justification for such an expense.

“The worst display of Fiscal Rascality is when political and public leaders of a country that is highly overburdened with Debts of all kinds, choose to spend scarce public resources on prestige projects and luxuries.

“Imagine the @NGRPresident and his Vice, @NGRSenate and @HouseNGR of @nassnigeria and the Governors of mostly unviable 36 States enjoying obscene luxuries while asking the Poor “to sacrifice for the future,” Ezekwesili stated.

Similarly, the Labour Party’s 2023 presidential candidate, Peter Obi, has called on the administration of President Tinubu to be transparent about the details surrounding the newly acquired presidential jet and the status of the older jets that are being sold off.

The presidential candidate said, “Now that the Jet is here, can Nigerian taxpayers whose money was used to purchase it need to be privy to how much it cost and how old the aircraft is and how long its been in operation.”

Presidential Yacht
Last year, the government faced significant criticism for planning to purchase a presidential yacht. In the 2023 supplementary budget of ₦2.17 trillion, President Tinubu proposed ₦5 billion for the yacht’s procurement.

Following public outcry, the National Assembly refused to approve the yacht’s funding, reallocating the ₦5 billion to student loans with questions remaining on how the government will finance the yacht.

Amid widespread criticisms over the procurement of a luxury boat for the President in the midst of worsening hardship across the country, the Nigerian Navy affirmed that it ordered the yacht during the administration of former President Muhammadu Buhari.

Naija News reports that the Director of Information, Nigerian Navy, Commodore Adedotun Ayo-Vaughan, in an interview with PUNCH, stated that the yacht had been in the country since June 2023.

The navy noted that the procurement of the yacht was long overdue, stressing that the yacht was for training and not for the pleasure of the President as widely believed.

₦21 Billion House for Vice President Shettima
The administration has also been criticized for reportedly spending ₦21 billion to complete the official residence of Vice President Kashim Shettima. Despite other urgent infrastructure projects, FCT Minister Nyesom Wike prioritized this residential project, drawing public ire.

Nonetheless, the minister completed and commissioned the project, ignoring the criticism.

President Tinubu stressed that the completion of the VP’s residence project, which commenced in 2010, was in line with his Renewed Hope Agenda, which favours the completion of uncompleted projects for the benefit of all Nigerians.

The Socio-Economic Rights and Accountability Project (SERAP) and some other Nigerians expressed anger over the expenditure of ₦21 billion to build the official residence for Vice-President Kashim Shettima, at a time of economic hardship in the country.

According to SERAP: “The reported expenditure of 21 billion Naira on the residence of the Vice President, Mr. Kashim Shettima, is wasteful and a clear instance of misplaced priorities by the Tinubu Administration.”

₦1.5 Billion Cars for the Office of the First Lady
The Office of the First Lady has often been criticized for the influence wielded by its occupants, despite being an unelected position. The cost of running this largely ceremonial office is also a point of contention.

Tinubu decided to spend ₦1.5 billion on vehicles for the Office of the First Lady, an office that is not recognised by the country’s constitution.

In the 2023 supplementary budget, the government proposed ₦1.5 billion for purchasing vehicles for the Office of the First Lady.

₦160 Million Cars for National Assembly Members
In the midst of the current economic crisis, members of the National Assembly received luxurious Sport Utility Vehicles, each costing an estimated ₦160 million. It is unclear what vehicles were provided to the Senate, but they are expected to receive more.

Chairman of the Senate Committee on Services, Sunday Karimi, explained that the leadership of the National Assembly made this choice for lawmakers based on considerations of durability and maintenance over a four-year period.

Karimi also criticized the noise surrounding the purchase of the SUVs, saying that ministers who ride about four official vehicles were not criticized.

₦90 Billion Hajj Subsidy
The government also spent ₦90 billion on the 2024 Hajj pilgrimage to Saudi Arabia. Due to the naira’s devaluation, the cost of the Hajj increased significantly, forcing the National Hajj Commission of Nigeria (NAHCON) to revise the fee multiple times.

The government’s ₦90 billion subsidy is now under investigation by various anti-corruption agencies. The Chairman of NAHCON, Jalal Arabi, and several management staff were arrested by the EFCC for alleged mismanagement of the funds.

The anti-graft agency revealed that a sum of SR314,098 was recovered from Arabi and other high-ranking officials of NAHCON.

The EFCC’s investigation found that funds from the ₦90 billion Hajj subsidy were fraudulently misappropriated, with Arabi allegedly overpaying himself and others for operational costs.

Meanwhile, President Tinubu, along with some of his aides and other government officials, have repeatedly urged Nigerians to remain patient, assuring them that the current hardships citizens are facing will be temporary.
[NaijaNews]

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