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₦150bn presidential Jet, ₦5bn presidential yacht, ₦21bn VP quarters - Tinubu's luxury spending

mynigeria.com 2024/8/25

File photo to illustrate the story
File photo to illustrate the story

Concerns have been raised about President Bola Tinubu’s government lavish spending following some controversies that have left many shocked.

President Tinubu has reportedly purchased a presidential jet worth N150 billion. The Airbus A330 presidential aircraft was acquired amid immense hardship in the country.

The plane has been assigned a tail registration featuring the seal of the President of the Federal Republic of Nigeria and is ready for delivery.

The aircraft is an ACJ330-200, VP-CAC (msn 1053), registered as 5N-FGA with features including a bedroom with an en-suite bathroom at the front, followed by an office, conference, and dining room. It also has airline-style first-class and economy seating at the rear.

Since the report came to light, Nigerians have been reacting to the acquisition. Many expressed sadness at the insensitivity of the government for purchasing a presidential jet worth $100 million but refusing to accept the N250,000 national minimum wage proposal by organized labour.

Recall that the presidency had earlier indicated plans to purchase a presidential yacht costing N5 billion in the 2023 supplementary budget submitted to the National Assembly.

This caused a stir as many wondered why the government would decide to purchase a yacht for the president while the country is facing an economic crisis.

Amid an uproar, the House of Representatives shut down the controversial presidential yacht and transferred the N5 billion allocated for it to the student loan division.

In response, the presidency claims the operational naval boat was ordered by the navy under the administration of former President Muhammadu Buhari and that Tinubu was only planning to purchase the boat because government is a continuum.

Additionally, N21 billion is set to cater for the construction of a Vice President’s quarters that will be located within the Three Arms Zone.

The contract was first awarded in 2010 at the cost of N7 billion but was abandoned in 2015 during the administration of President Muhammadu Buhari.

However, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has assured the completion of the project after getting approval from President Bola Tinubu.

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