Tinubu’s Administration Accused of Profligacy as Details Emerge of N150bn Presidential Jet and N5bn Yacht.

The decision by the government to allocate more than N150 billion for the purchase of an aircraft has sparked outrage among Nigerians amidst the challenging economic conditions and rising cost of living.

Mr. Tinubu’s policies, such as subsidy removal and exchange rate unification, have contributed to the escalating prices of goods, which experts believe are fueling the current inflation rates. Despite the President’s calls for patience in the face of these hardships, inflation has surged to 33 percent.

The acquisition of the Airbus A330 as a replacement for the 19-year-old Boeing B737-700(BBJ) during Olusegun Obasanjo’s presidency reportedly cost the Nigerian government over $100 million.

The House Committee’s approval for this purchase of the luxury jet has been widely criticized by many Nigerians as being insensitive to the populace’s economic struggles.

Amidst the economic challenges, members of the National Assembly procured expensive Sport Utility Vehicles, at an estimated cost of N160 million per unit for House members.

Another contentious expenditure during this administration is the reported N21 billion expenditure on completing the Vice President’s official residence. Furthermore, in the 2023 supplementary budget, the government included a proposal of N1.5 billion for the purchase of vehicles for the First Lady’s office.