President Bola Approves Controversial Supplementary Budget Amid Economic Challenges

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President Bola Tinubu of Nigeria has stirred widespread criticism after approving a supplementary budget of $2.8 billion, a move perceived by citizens as ill-timed amid the country’s economic woes. The budget has drawn attention for including provisions for new bulletproof cars for the president and first lady, further exacerbating discontent among the populace already grappling with a cost-of-living crisis.

The supplementary budget allocates approximately U.S.$38 million for various expenses, including the presidential air fleet, vehicle expenditures, and the refurbishment of residential quarters for the president, vice president, and the president’s spouse. The decision to allocate funds for new bulletproof cars has sparked disapproval, raising questions about the government’s priorities in a challenging economic climate.

The House of Representatives has rejected the government’s proposal to acquire a U.S. $6.1 million presidential yacht, deeming it an extravagant expenditure at a time when the nation is facing economic difficulties. Initially part of the U.S. $53 million budget allocated to the Nigerian Navy, the funds for the yacht were redirected to the student loan section following the House’s intervention.

President Tinubu, who assumed office in May 2023, had pledged to reduce unnecessary expenditures and ease the financial burden on the population. However, these recent budgetary decisions have faced heightened scrutiny, especially with Nigeria’s annual inflation soaring to 26.7% in September. The public discontent reflects the challenges of balancing economic stability and government spending priorities in a country facing significant economic pressures.

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