President Bola Tinubu Buys Yacht, SUVs While Nigerians Starve

ABUJA, (iexclusivenews) – Nigeria is facing a severe economic crisis, with millions of people living in extreme poverty and struggling to afford food. Yet, President Bola Tinubu seems to have no regard for the plight of his citizens, as he has budgeted for a lavish yacht that would cost more than the entire budget of some states in Nigeria.

President Tinubu’s Outrageous Yacht Request

President Tinubu, who took office in May 2023, has submitted a supplementary budget that seeks additional funding beyond the annual budget approved by his predecessor.

The supplementary budget reveals some shocking expenses that show how Tinubu prioritizes his own comfort over the welfare of the nation.

According to the proposal, Tinubu has included a 5 billion naira presidential yacht in the navy’s proposed expenses.

This yacht would be a wasteful expenditure for a country that is facing a debt crisis and has little money left to invest in health, education and infrastructure.

Tinubu’s spokesman, Temitope Ajayi, has defended the budget and said that the president did not ask for a yacht and that the public attack on the budget was because of the “very simplistic way some of the line items are described by civil servants, who prepare the budget”.

However, this explanation is not convincing, as it does not justify why Tinubu needs such an expensive yacht and why he did not consult with the navy before including it in their budget.

MORE NEWS:

FCT Workers Dismiss Rumours of Salary Cut by Wike

JUST IN: NLC President Joe Ajaero Arrested in Imo State

Tinubu’s Reforms Hurt Nigerians

While Tinubu spends billions on luxury items, Nigerians are suffering from the effects of his economic reforms.

President Tinubu has ended a popular but costly fuel subsidy and removed currency restrictions that caused prices to spike and the naira to plummet.

These measures have increased inflation, unemployment and poverty in Africa’s most populous nation.

According to official statistics, NBS new methodology puts Nigeria’s unemployment rate at 4.1% in Q1 2023.

The National Bureau of Statistics (NBS) says Nigeria’s unemployment rate was 4.1 percent in the first quarter (Q1) of 2023 and 5.3 percent in the previous quarter.24 Aug 2023

The country also has a food inflation rate of 26.7%, which means that food prices have increased by almost a quarter in a year.

Furthermore, Nigeria has a poverty rate of 40.1%, which means that more than 80 million Nigerians live on less than $1.90 per day.

Many Nigerians are unable to afford enough food to feed themselves and their families. Some have resorted to begging, scavenging or stealing to survive.

Others have died from hunger, malnutrition or disease. The situation is especially dire for children, who are more vulnerable to the effects of hunger and poverty.

President Tinubu Faces Backlash from Nigerians

President Tinubu’s extravagant spending has sparked outrage among Nigerians, who have taken to social media to express their anger and frustration.

Many Nigerians have accused Tinubu of being insensitive, corrupt and incompetent.

They have also called for accountability and transparency from his administration.

Some Nigerians have also compared Tinubu’s spending to that of other African leaders who have been more frugal and responsible with their budgets.

For example, Tanzania’s President Samia Suluhu Hassan announced that she would not buy new vehicles for her cabinet ministers and instead use the money to buy COVID-19 vaccines for her people.

Tinubu’s supplementary budget still needs to be approved by federal lawmakers, who may yet reject some or all of his proposed expenses.

However, the lawmakers have also been criticized for buying hundreds of their own expensive SUVs.

Therefore, it is unclear whether they will act in the best interest of the people or in their own self-interest.

Tinubu’s yacht request has exposed the deep inequality and injustice that exist in Nigeria, where a few elites enjoy a life of luxury while millions of ordinary citizens suffer a life of misery.

Tinubu’s yacht request has also shown how disconnected he is from the reality and needs of his people, who deserve better leadership and governance.