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Secrets Reporters
As economic woes continue to ravage the Nigerian economy, the administration of President Bola Ahmed Tinubu has earmarked the sum of N6 billion for the purchase of motor vehicles.
This was contained in the 2024 appropriation bill, presented to the National Assembly on the 29th of November, 2023, by Tinubu.
A breakdown of the amount shows that the sum of N4 billion would be spent for the purchase of new operational vehicles, while the remaining N2 billion would be used to replace SUV vehicles in the state house.
In addition, the sum of Three hundred and fifty-one million, eighty-four thousand and five hundred and fifty Naira (351,084,550) was budgeted for the purchase of tyres for bulletproof vehicles, plain cars, CCU vehicles, platform trucks, jeeps, ambulances and other utility and operational vehicles.
Recall that in the 2023 budget, the amount of Two hundred and fifty-one million eighty-four thousand and five hundred and fifty Naira (251,084,550) was also budgeted for the purchase of the same tyres for bulletproof vehicles, plain cars, CCU vehicles, platform trucks, jeeps, ambulances and other utility and operational vehicles.
Furthermore, One billion nine hundred and four million, three hundred and eighty-eight thousand and four hundred and sixty-one Naira was budgeted in 2023 to purchase motor vehicles.
The appropriation bill has a total revenue forecast of N18.32 trillion, alongside a deficit amounting to N9.18 trillion, which represents 3.88 percent of the GDP.
The budget has a combined allocation for “refreshments & meals and foodstuff” in the offices of Tinubu and Vice President Kashim Shettima for N660.5 million.
The amount is shared between Tinubu and Shettima, with N287.8 million allocated for the President’s office and N372.6 million earmarked for the Vice President’s office.
More so, the budget for President Tinubu includes N33.6 million for refreshments and meals and an additional N254.2 million for the supply of foodstuff and catering materials.
For Vice President Shettima, the allocation is N35 million for refreshments and meals, plus N337.5 million for foodstuff and catering materials supplies.
