President Bola Tinubu, Vice President Kashim Shettima, and First Lady Remi Tinubu spent at least ₦5.24bn on local and foreign travel between January and March 2024.
An analysis using GovSpend, a civic tech platform tracking Federal Government expenditures, revealed that ₦1.35bn was allocated for presidential trips and related expenses in three months. Additionally, ₦3.53bn was used for foreign exchange purchases during 10 international trips, and ₦637.85m was paid to two travel agencies for air tickets for both local and foreign trips.
These payments, made through the State House transit account, did not include the estacodes of the President’s entourage. During the same period, the government also spent ₦12.59bn on maintaining the presidential air fleet.
Previously, the President spent ₦3.4bn on travel within six months of taking office, a figure 36% higher than the ₦2.49bn earmarked for travel in the 2023 budget. Overall, ₦8.64bn was spent on local and foreign trips between June 2023 and March 2024. The report also indicated the President received ₦650m as an honorarium.
Nigerians have consistently expressed concern over the President’s frequent travels, calling for tangible outcomes from these journeys. In their first seven months in office, President Tinubu and Vice President Shettima visited 16 countries, collectively spending 91 days on foreign engagements.
President Tinubu’s visits included two trips each to Paris, France, and Bissau, Guinea-Bissau, and trips to London, Nairobi, Porto-Novo, New Delhi, Abu Dhabi, Dubai, New York, Riyadh, and Berlin, totaling 55 days.
Financial expert Olorunfemi Idris noted that presidential trips could strengthen diplomatic ties, promote national interests, and attract foreign investment. For instance, President Tinubu’s recent trips resulted in agreements on security, economic development, and climate change, as well as investments in infrastructure and energy projects. However, Idris also highlighted the high costs of these trips, which could divert funds from essential areas like healthcare, education, and infrastructure development.
“The ₦8.64bn spent on President Tinubu’s trips in eight months alone could have been used for healthcare, education, or infrastructure development,” Idris said. He emphasized the need to balance the benefits of these trips with their financial implications.
Professor of Economics Cletus Agu pointed out the importance of assessing whether the expenditures were judicious. He argued that while spending significant amounts is not inherently problematic, it is crucial to ensure that these expenditures yield substantial economic benefits.
“What you should ask is why he is spending such an amount. If the impact on the economy is positive, there is nothing wrong with it,” Agu said.
Economist Dr. Akin Akinleye called on the government to cut unnecessary expenses given the country’s economic situation. He stressed the need to prioritize the economy and avoid travel that does not offer economic benefits.
“They have the right to travel, but they must prioritize the economy,” Akinleye said.
