An analysis of the proposed 2025 budget currently under review by the National Assembly reveals that the Nigerian government plans to allocate N298.3 million for renovating the Vice President’s guest house. Additionally, N466.8 million has been earmarked for renovating the Vice President’s quarters at the State House, Presidential Villa.
This planned expenditure comes despite the government’s repeated pledges to exercise prudence in managing public resources. Recent data from the public payments portal, Govspend, shows that in August 2024, the Presidency spent N156.5 million on the renovation of presidential quarters.
Furthermore, a review of the Open Treasury Portal earlier revealed that in May 2024, the administration of President Bola Tinubu spent N3.6 billion on rehabilitating and renovating residential buildings. Another N8.5 billion was allocated for constructing office buildings during the same period, bringing the total to N12.1 billion.
These expenditures have sparked growing concerns about transparency and accountability in the use of government funds, particularly at a time when the country is grappling with limited financial resources.
Nigeria is already burdened by a significant debt servicing obligation, with N15 trillion out of the projected N34 trillion revenue for 2025 set aside for this purpose. The situation has heightened calls for more judicious management of the nation’s finances to address pressing economic challenges.
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