Nigeria’s government has come under fire over a budget that included a 6 billion naira ($6.3 million) presidential yacht and luxury cars, as the country grapples with mounting debts and a cost-of-living crisis.

Lawmakers rejected the plans for a presidential yacht before approving the N2.1 trillion ($2.7 billion) supplementary budget on Thursday, following a public outcry. The money was allocated instead to a student loan program.

The budget still allocates funds for purchasing SUV vehicles for the presidency, amounting to N2.9 billion ($3.6 million), and to cover the cost of renovating the president’s residential quarters, estimated at N4 billion ($5 million).

It also includes official vehicles worth N1.5 billion ($1.9 million) for the First Lady’s Office, despite the fact that Nigerian laws do not formally recognize this office.

A ‘spending problem’
Nigerians, many of whom who are struggling to make ends meet, reacted in anger to the proposed budget, prompting the lawmakers to make changes.

“Nigerians are facing some of the harshest economic realities of their existence. It shows a remarkable lack of empathy for the President to spend so profligately at a time when soldiers fighting the war on terror are dying and should be better motivated to build morale, pensioners are being owed, civil servants take home pay can no longer take them home, and fuel and food inflation is approaching 30%,” said former presidential aide Reno Omokri in a post on X, formerly known as Twitter.

Anti-corruption activist Yomi Ogunsanya told CNN the budget “insults the sensibility of Nigerians,” and called plans to renovate the president’s residence and buy new SUVs “wasteful.”

“These are wasteful spendings… Nigeria doesn’t have a revenue problem; we have a spending problem.”

Government ‘hypocrisy’
Other analysts say it is “hypocrisy” for the government to spend on luxuries while impoverished citizens suffer hardship caused by the president’s economic reforms.

More than 80 million Nigerians live on less than $2 a day, representing “the world’s second-largest poor population after India”, according to the World Bank.

“Does it make sense that our government would borrow money to finance their ostentatious and luxury lifestyles at a time the president urged the pauperized nation to tighten their belts?” Nigerian lawyer and political analyst Ken Eluma Asogwa asked during a phone interview with CNN from Abuja.

“It is very provocative that amid all these fiscal challenges, the federal government is bent on wasting resources on mundane things … and maintenance of the luxury lifestyles of its functionaries.”

Presidential aide Bayo Onanuga said in a statement issued before the yacht was removed from the budget that it was “an operational naval boat with specialized security gadgets suitable for high-profile operational inspection and not for the use of the president.”

Onanuga added that “the naval boat was ordered by the navy under the previous administration.”

Nigeria owes over a billion dollars, according to its debt management office, and plans to borrow more this year.

It’s not immediately clear if the supplementary budget will be partly funded with borrowed money. CNN has reached out to the budget office for clarity.

Local media reported Thursday that the Nigerian House of Representatives reallocated the amount for the presidential yacht to the student loan scheme before passing the spending bill.

The supplementary budget was also approved by the country Senate after MPs from both parliaments merged their report on the budget.

Onanuga, who is Tinubu’s Special Adviser on Information and Strategy, did not comment on the government’s plan to acquire luxury vehicles for the presidency.

However, CNN has reached out to the presidency for comment.

Economic woes
Nigerians have been grappling with above-average inflation for years.

However, the devaluation of the local currency, which has pushed it to record lows against the dollar, has led to even more price spikes and greater hardships.

Nigeria’s imports-driven economy relies on the dollar for international trade. In June, the Nigerian government announced it was lifting controls on foreign currencies, an economic reform it said would enable the local currency exchange freely against the dollar. But this has further weakened the Nigerian naira, which currently exchanges at over N1000 to a dollar on the black market.

Nigeria’s inflation rate hit 26.72% last month - its highest level in 20 years. Food inflation also rose to more than 30% year-on-year in September, 1.3% higher than the previous month. Transport costs had already risen sharply after Tinubu ended a fuel subsidy during his inaugural speech in May, saying it was unsustainable and a drain on public finances.

In an Independence Day address in October, Tinubu asked Nigerians to make sacrifices until his economic reforms began to take effect, urging them to “endure this trying moment.” However, many have pointed out that no attempts have been made to curb the huge costs of its government.

Tinubu runs a 48-member cabinet that data intelligence company Stears says is the largest of any Nigerian president since the country’s return to democratic rule in 1999.

Last month, Nigeria’s Senate unveiled plans to acquire luxury vehicles for its 469 members despite the country’s struggling economy. Sunday Karimi, who heads the Nigerian Senate’s services committee, told local media that the decision was made because of the bad state of the roads in the country.

According to Karimi, senators “need the vehicles for oversights, to travel all over our constituencies,” adding that “If you look at Nigerian roads all over the federation, we have a serious problem because… most of our roads are terribly bad,” he said.

Anti-corruption activist Ogunsanya told CNN that Nigerians were yet to reap the benefit of monies saved from the removal of the fuel subsidy.

“You said there’s no money, you want to remove subsidy. You have removed it, and people are still feeling the impact. And then that same money, instead of channeling it to productive ventures and see how it can ameliorate the sufferings of the people, it is just (being used) for their own selfish benefits to live large in luxury,” he said of the government’s actions.

https://www.cnn.com/2023/11/03/africa/nigerians-outraged-over-presidential-yacht-intl/index.html#:~:text=Nigeria's%20government%20has%20come%20under,cost%2Dof%2Dliving%20crisis.

Nigerians are not angry yet. A nation where some people openly maimed and killed people just to enthrone a gang of well known kleptimatic super looters in government like the CSU diploma certificate criminal, Gandollar, Atiku Bagudu, Gbaja, Let the suffering continue till there is wholistic brain resetting first.

CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

Hehehe.

How can Nigerians be angry where a financial guru is our president according to online APC branch.

How can we be angry,they already told us to endure the hardship,that tomorrow go better, while they gallivant everywhere with expensive cars and billions budgeted for their cars, yatch and renovation of houses they won't even stay for weeks.

We are not angry oh, atlist unemployment is now over the roof,we were told they are making plans.

We are not angry, because even the small mini importation business the youths were into before is no longer possible as a result of the rise of dollars,and guess who made the situation possible,our darling government.

How can we be angry, our farmers are no longer going to farm because bandit's and kidnapper now see them as a way to cash out.

We are not angry at all,our roads are now death traps. If you excape accident caused by bad roads,you might not excape kidnapper's.

We are not angry, because their online paid boys are always out to explain their policies better to us. Once they explain we must understand or we are termed the enemies of the state.

To be a good,petrotic and charismatic Nigerian,you must stop being logical,stop asking questions, become a sychophant and smile while everything goes wrong.

In a nutshell,we are not angry,we are smiling.

This hardship hits differently.

"THE LORD WILL FIGHT FOR YOU, JUST BE PATIENT".
JAGABAN WILL FIX NIGERIA AND ADOPT FAPRES FOTCS AND CTC FOCS TRFG.

On dolt

Well now Tinubu is the best thing after jollof rice and chicken

CoronaVirusPro:
CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

waiting be this... Dude for real?

We need to face the reality... even travelling out for business isn't easy anymore now we have a state wer u see people misuse power and are corrupt.. nobody says a word...

Tinubu spent billions of dollars to rig the election. How exactly do you think he'll get back his spent money, via his chicken alawee? LMAO! 😂 Jokers... He'll still get it through other means. Abi he first tried to increase his alawee by 114%? This is just the beginning.

CoronaVirusPro:
CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

. You're very foolish if this is all you could say. How manage did your brain leave you?

Agbadorians are very happy because their brain works in reverse psychology.

Reno should just keep his mouth shut. He knows the character of Tinubu but yet supported him.

aylive02:
. You're very foolish if this is all you could say. How manage did your brain leave you?

He is 100% correct.

It is not right that nearly one million Americans are homeless and destitute, sleeping on the streets, and under the bridge, when that country spends 3 trillion dollars a year on weapons, and sponsors wars and conflicts across the world.

CNN will never show you this, but in most of these western cities, London, New York, Paris etc, white men will be on the streets begging you for money to eat.

CoronaVirusPro:
CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

You are a goat.
A glorified zone B

Catapault:



He is 100% correct.

It is not right that nearly one million Americans are homeless and destitute, sleeping on the streets, and under the bridge, when that country spends 3 trillion dollars a year on weapons, and sponsors wars and conflicts across the world.

CNN will never show you this, but in most of these western cities, London, New York, Paris etc, white men will be on the streets begging you for money to eat.

Are you happy that Tinubu is running the country like a typical Yoruba man who will go borrowing to buy the best of lace just to grace an owambe party instead of managing what he has?

The cocaine dealer has brought nothing but shame and hardship to his followers

adebayo987:
Tinubu spent billions of dollars to rig the election. How exactly do you think he'll get back his spent money, via his chicken alawee? LMAO! 😂 Jokers... He'll still get it through other means. Abi he first tried to increase his alawee by 114%? This is just the beginning.

Chinjo2:


You are a goat.
A glorified zone B

Fake outrage. The masses are only mad because they have no chance to be part of the looting gang. If given a chance to benefit from the corruption, they'd gladly take the offer too.lol

Ihaveleftnaija:
Fake outrage. The masses are only mad because they have no chance to be part of the looting gang. If given a chance to benefit from the corruption, they'd gladly take the offer too.lol

Nigeria assembled the greatest looters to finally finish off the country.

CoronaVirusPro:
CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

Ronu.. People

CoronaVirusPro:
CNN must be very stupid!

When did they cover the outrage of Americans?

With biting inflation, homelessness and insecurity, Americans are outraged about how the government keeps sending billions oversees at the detriment of its own citizens!

Did CNN cover that?

Did CNN cover how American youths are soaked in debt right before they graduate, and yet, the government keeps pumping billions into military industrial complexes?

If anyone should be reporting, CNN not in that class! They should tell us about how their own government cheats them too!

you are in pain. The truth is bitter.

Catapault:



He is 100% correct.

It is not right that nearly one million Americans are homeless and destitute, sleeping on the streets, and under the bridge, when that country spends 3 trillion dollars a year on weapons, and sponsors wars and conflicts across the world.

CNN will never show you this, but in most of these western cities, London, New York, Paris etc, white men will be on the streets begging you for money to eat.

nearly one million are homeless in America, but in Nigeria 134millions are living in poverty.
We are supposed to be ashamed of of ourselves if other countries are talking.
Do you know how many millions of people praying to just enter America?
If Nigeria government do only 1% of what America is doing to it citizens, I swear you will not be this poor.