iThe Presidency of Nigeria spent at least N34.39 billion on foreign exchange purchases to support official international travel and related obligations between 2024 and 2025, an analysis of government spending records has shown.
The figures, derived from data compiled by the public expenditure tracker GovSpend, cover transactions by the State House, the Presidential Air Fleet, the Office of the Chief of Staff, and other units linked to the President, Vice President, First Lady, and their aides.
The breakdown shows that the bulk of the expenditure occurred in 2024, when the Presidency’s forex purchases totalled N29.35 billion, while 2025 recorded N5.04 billion, representing an 82.8 per cent year‑on‑year decline. The sharp reduction aligns with broader trends in the foreign exchange market, where the naira stabilised following policy reforms and improved dollar inflows.
According to the records, the transactions largely relate to forex purchases for official trips, aviation operations, estacodes, training programmes, and logistics for international engagements involving top government officials. A significant portion of the 2024 spending was tied to multiple multi‑billion‑naira purchases by the Presidential Air Fleet for transit funds used in overseas travel.
The scale of the spending has continued to draw public scrutiny amid Nigeria’s ongoing fiscal constraints and foreign exchange shortages. Odeh Friday, Country Director of Accountability Lab Nigeria, said the figures highlight the need for greater transparency and accountability in managing public finances, noting that “some of them are clearly wasteful expenditure” and urging a shift toward more equitable fiscal management.