In a startling revelation, the State House reportedly expended a staggering sum of N244,654,350 in a single day solely on tyres, according to investigative findings by the Daily Trust.
Data accessed from govspend, a platform monitoring expenditure at the Presidential Villa, disclosed that these payments were disbursed for the procurement of both bulletproof tyres and standard Westlake tyres. The transactions, which occurred on May 21, 2024, included payments of N200,583,390 and N38,070,000 to Obi-Wealth Enterprises Nigeria Limited for unspecified quantities of bulletproof tyres and five armoured bulletproof tyres, respectively.
Further scrutiny revealed that Hommy & Fay Investments Limited received N6,000,960 for the supply of an unspecified quantity of Westlake tyres (315/80R22).
Interestingly, concerns were raised as Obi-Wealth Enterprises Nigeria Limited, one of the contracted suppliers, was found to be inactive according to records from the Corporate Affairs Commission (CAC).
Efforts to obtain comments from the presidency regarding these expenditures proved futile, as repeated attempts to reach the Special Adviser to the President on Information and Strategy, Bayo Onanuga, went unanswered at the time of reporting.
The controversy surrounding this substantial expenditure coincided with broader economic challenges facing Nigeria, including a historic inflation rate and ongoing currency crisis. Minister of Budget and National Planning, Atiku Bagudu, acknowledged these hardships during a recent sectoral update, emphasizing the government’s commitment to economic stability despite public discontent over the financial burden placed on citizens.
Critics have lambasted President Bola Tinubu’s administration for what they perceive as excessive spending amidst prevailing economic adversity. The administration’s recent call for national sacrifice, juxtaposed against reports of lavish expenditures, has sparked widespread condemnation from various sectors of Nigerian society.
Dr. Abdulsalam Kani, an economist and lecturer at Saadatu Rimi University of Education, Kumbotso, Kano, and Director of the Fiscal Discipline and Development Advocacy Centre (FIDAC), criticized the government for failing to fulfill promises to alleviate economic hardships, citing unfulfilled pledges related to fuel subsidies, electricity tariffs, and the delayed reopening of the Port Harcourt refinery.
