General News of Thursday, 29 August 2024

Source: www.saharareporters.com

Presidency spends N366m on bulletproof tires in three days - Report

More than N366 million has been spent on tires in three days, with payments made on May 21, 2024, June 22, 2023, and June 24, 2023, according to SaharaReporters.

A review of the Govspend public payments portal revealed that the President Bola Tinubu administration has made significant tire-related expenditures.

The findings show a single-day expenditure of N42.8 million on June 22, 2023, for State House tires. On June 24, another sum of N86.2 million was spent to purchase tires with the description 'Purchase of Tyres to State House'.

Two payments were registered on May 21, 2024. The Presidency spent N38 million on the supply of five (5) nos s600/222 armored/bulletproof tires (255-720-r490ac).

Another sum of N200.5 million was paid for the supply of tires for bulletproof vehicles to State House, Abuja.

In total, the Presidency spent N366 million in three days on the purchase of tires, according to details on the Govspend platform.

These transactions have raised questions about the transparency and efficiency of public spending under the current administration.

The tire expenditure revelations add to concerns over the Tinubu administration's priority spending as Nigeria faces revenue shortages, burgeoning debt, and significant debt servicing costs.

Despite pledges of prudence, experts argue that the government's spending patterns indicate a long way to go in achieving fiscal discipline.