Crisis-hit Nigeria's budget has yacht, bulletproof cars for President's wife

Nigerian President Bola Tinubu has recently signed a supplementary budget of $2.8 billion into law.

This budget has sparked controversy due to its allocation of funds for new bulletproof vehicles for the president and his wife, as well as other expenditures, like a presidential yacht, official vehicles for the first lady’s office, and renovations to the president’s residence.

The lawmakers approved this budget on November 2. Initially, Tinubu proposed this budget to address what he considered “urgent issues,” particularly related to defence and security.

The presidency has justified the allocation for the yacht, explaining that it’s an operational naval vessel equipped with specialised security features.

However, the focus of public attention and criticism has shifted towards the allocation of funds for what many perceive as luxury items and the renovation of the president’s residence.

Opponents of the budget have argued that the spending is unnecessary and insensitive to the plight of ordinary Nigerians, who are struggling to make ends meet amid rising inflation and economic hardship, according to Reuters.

Africa’s most populous nation is grappling with double-digit inflation, foreign currency shortages, a weakening naira, widespread insecurity and crude oil theft.

Tinubu, who was sworn into office in May, has been under pressure from unions to offer relief to households and workers. He has asked Nigerians to be patient with reforms.

With inputs from agencies