N5B Spent on Shettima’s Lagos Residence Renovation Sparks Public Outcry

Date:

**Headline**: *N5 Billion Spent on Vice President’s Lagos Residence Renovation Sparks Public Outcry*

The Nigerian government, under President Bola Tinubu’s administration, has reportedly spent over N5 billion of public funds on renovating the official residence of Vice President Kashim Shettima in Lagos State.

Data from GovSpend, a civic tech platform that monitors Nigerian government expenditures, revealed that N5,034,077,063 was allocated in May and September 2024 for the renovations. Detailed records show that on May 31, 2024, N2.8 billion was paid to Denderi Investment Limited for refurbishment of the Vice President’s quarters. An additional N726.7 million and N1.48 billion were disbursed on September 5, 2024, to the same company for further phases of the renovation project.

Simultaneously, the Federal Capital Territory (FCT) administration in Abuja announced plans to spend N15 billion to construct a “befitting” official residence for the Vice President in the capital. This plan was disclosed by FCT Minister Nyesom Wike during a budget defense session before the House of Representatives committee.

These revelations have sparked backlash from Nigerian citizens and advocacy groups. The Socio-Economic Rights and Accountability Project (SERAP) condemned the spending, calling it a “breach of public trust” and a violation of Nigeria’s anti-corruption and human rights commitments. SERAP’s Deputy Director, Kolawole Oluwadare, noted that spending N15 billion on the new residence is excessive, especially as Nigeria plans to allocate over N8.25 trillion (30% of the 2024 budget) solely for debt servicing.

Auwal Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, criticized the administration for not honoring its pledge to reduce governance costs, while Debo Adeniran, Chair of the Centre for Anti-Corruption and Open Leadership, stressed the need for a new constitution to curb excessive government spending.

These expenditures have reignited debates on the prioritization of public funds amidst economic challenges in Nigeria.

RECOMMENDED

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_img

Popular

More like this
Related

Lucky Aiyedatiwa Re-Elected as Ondo Governor in Landslide Victory

APC candidate secures 366,781 votes to beat PDP...

NNPC Halts Fuel Imports, Now Sourcing Locally from Dangote Refinery, Others

The Nigerian National Petroleum Company Limited (NNPC) has ceased...

Harvest: Gombe community earns N12m daily from tomato, pepper agribusiness

Tomato and pepper dealers in Bula community in Akko...

Fuel Price: IPMAN Shares Latest Update On Agreement With Dangote

Nigerians have been reassured by Abubakar Maigandi, National President...

Tinubu’s China visit’ll strengthen China-Nigeria relations —Akinremi

The state visit of President Bola Tinubu to China...

Tito Jackson Has Died At 70

Tito Jackson, an original member of the iconic Jackson...

Prediction: Nvidia’s Blackwell Chip Poised to Drive Unprecedented Growth

Nvidia's (NASDAQ: NVDA) earnings have surged, leading to astonishing...

Port Harcourt Refinery: Onanuga Debunks Rumours of Dysfunction

The Port Harcourt Refinery Complex has made significant strides...

Yahaya Bello Granted ₦500M Bail in EFCC’s Corruption Case

Two Sureties, Landed Properties in Abuja Required to...

Nigeria’s National Grid Experiences 10th Collapse in 2024, Citing Aging Equipment and Poor Maintenance as Major Causes

Nigeria’s National Electricity Grid has suffered its 10th collapse...