In the first six months of his tenure, President Bola Tinubu has reportedly incurred travel expenses amounting to at least N3.4 billion, exceeding the N2.49 billion allocated for the entire 2023 budget. Despite inheriting a budget midway, Tinubu’s travel spending has raised eyebrows, with critics pointing out that his visits from June to December 2023 exceeded the annual budgeted amount.
Notably, the President greenlighted a N3 billion expenditure for the acquisition of three bulletproof Mercedes Benz S-class 580 vehicles and the procurement of other vehicles for the State House. This follows last year’s controversial sponsorship of 1,114 delegates to the United Nations’ COP28 summit in Dubai, attracting public criticism.
In response to public scrutiny, the Presidency recently announced a 60% reduction in Tinubu’s entourage size for domestic and international travels, emphasizing cost-cutting measures. However, GovSpend, a civic tech platform tracking government spending, reveals that a total of N1.15 billion was spent on presidential trips and related expenses in the last six months, excluding the President’s entourage’s estacodes.
Monthly breakdowns indicate varying spending, with June at N82.2 million, August at N393.3 million, and September at N287.9 million. Despite a hiatus in October, President Tinubu spent N314.2 million in November and N69.2 million on local and foreign trips in December.
Further scrutiny reveals payments of N732.8 million to travel tour companies for presidential international and local air tickets, suggesting a shift from presidential air fleets. Hinterland Travels and Travel Options received N687.7 million and N45.1 million, respectively.
Moreover, N1.53 billion was spent on forex purchases, mainly in September. This includes N791 million on forex worth $4 million for President Tinubu and N77.7 million for his wife, Oluremi Tinubu.
While the Presidency defends these travels as vital for attracting foreign direct investment, critics question the economic impact and the size of the entourage. Recent data indicates a 43.55% decline in capital importation in Q3 2023.
Civil Society Legislative Advocacy Centre’s Executive Director, Auwal Rafsanjani, calls out the administration for insincerity, noting the failure to reduce allocations in the 2024 budget as evidence that cost-cutting claims lack substance. Rafsanjani emphasizes the need for genuine efforts to reduce governance expenses.”
