Despite asking Nigerians to tighten up their belts because of the present economic crunch of the country, the country’s seat of power, the State House, under President Bola Tinubu, reportedly spent an astonishing N244,654,350 on tyres in a single day.
Investigation and data gathered by Daily Trust from govspend, a portal documenting Presidential Villa expenditures, revealed that the State House made these payments for the supply of an unspecified quantity of bulletproof and Westlake tyres the week President Bola Tinubu’s government marked its first year in office.
Documents showed payments of N200,583,390, N38,070,000, and N6,000,960 made on May 21, 2024, for these items.
The documents revealed two separate payments for the purchase and supply of tyres (no specified quantity) for bulletproof vehicles and another five armoured bulletproof tyres to Obi-Wealth Enterprises Nigeria Limited (RC-640684) for N200,583,390 and N38,070,000. A quick search on the Corporate Affairs Commission (CAC) website revealed that the company is inactive.
Hommy & Fay Investments Limited, active on the CAC portal, handled the supply of an unspecified number of Westlake tyres (315/80R22) for N6,000,960.
Attempts to get reactions from the presidency over the tyre expenditure were unsuccessful.
Several calls made to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, did not go through. A message sent to him had not been replied to as of the time of filing this report.
Just 24 hours after the tyre payments, Minister of Budget and National Planning, Atiku Bagudu, apologized to Nigerians over the nationwide hardship. Speaking during the ministerial sectoral update, he said the policies of the Tinubu-led government were on track despite the currency crisis and inflation that have frustrated economic growth.
“So what’s the answer to all of these? It’s to restore macroeconomic stability that will ensure that investors, both domestic and international, put their faith in our economy once again. And we are all doing this without a blame game. And I apologize for the pain that they may occasion, but they are necessary… Is our strategy, right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use,” he had said.
Nigeria’s inflation has risen to a 28-year high, worsening the cost of living—a stance largely attributed to President Tinubu’s policies. However, critics have accused the Tinubu administration of “frivolous spending” despite numerous pleas to the citizens over the current hardship.
There was a backlash the last time the president asked Nigerians to make sacrifices for the progress of the nation.
Tinubu had, while addressing journalists after observing the Eid-el Kabir prayer at Dodan Barracks, Lagos, stressed the need for the people to follow the path of sacrifice to make the nation great.
The comment had elicited reactions from Nigerians, civil society organisations, and the opposition Peoples Democratic Party (PDP), among others.
