The Nigerian populace is grappling with a tempest of discontent following the unveiling of President Bola Tinubu‘s first supplementary budget.
Amidst a nationwide cost of living crisis, the proposal starkly includes a lavish array of vehicles for the president and his spouse, alongside opulent expenditures such as a presidential yacht and extensive renovations to his villa.
This supplementary budget, seeking funds over and above the previous year’s allocation sanctioned by Tinubu’s predecessor, arrives at a time when the Nigerian government is urging its citizens to endure hardships partially precipitated by the president’s sweeping economic reforms.
The nation, Africa’s most densely populated, is currently beset by rampant joblessness, skyrocketing food costs and a currency in freefall.
At the heart of the controversy is a staggering 1.5 billion-naira allocation earmarked for the procurement of SUVs for the office of the First Lady, Oluremi Tinubu – a sum that overshadows the budgets of several federal colleges.
Additionally, the budget outlines an allocation of nearly 6 billion naira for presidential SUVs, a figure that dwarfs the proposed funding for a student loan programme aimed at aiding impoverished families.
The presidency’s spokesman, Temitope Ajayi, has refuted claims of extravagance and decried the media’s portrayal of the budget, stating in a column published by a local news outlet that the “public attack” stems from a “very simplistic way some of the line items are described by civil servants who prepare the budget.”
Ajayi insists that the new vehicles are designated for use by aides and civil servants, not President Tinubu himself.
Notwithstanding, federal lawmakers have yet to consent to the budget items, which include the contentious 5 billion-naira presidential yacht listed under the navy’s planned expenditures.
It’s worth noting that the legislature itself has not been immune to criticism, having previously been condemned for acquiring an array of expensive SUVs.
President Tinubu, who assumed office in May, has terminated a popular fuel subsidy and removed currency controls, resulting in an acute spike in prices and significant devaluation of the naira.
Consequently, many Nigerian households find themselves struggling to make ends meet in a country where a stark 40% of its over 200 million citizens subsist in extreme poverty.
The previous year saw Nigeria allocate roughly 96% of its revenue to debt servicing, and the government is currently poised to raise 9 trillion naira to finance the forthcoming year’s budget. With the nation in the throes of financial strain, the proposed opulence in the supplementary budget is inciting public ire.