The Presidency under President Bola Tinubu’s administration has expended a staggering N16.06 billion on foreign currencies for international trips in the past year.
According to data from GovSpend, this expenditure covers a range of officials including the President, Vice President, First Lady, and the Chief of Staff to the President.
The data, spanning from June 2023 to May 2024, details significant allocations towards diplomatic missions and operational costs of the Presidential Air Fleet.
The majority of these funds, amounting to N10.93 billion, were allocated to President Tinubu’s numerous international engagements, highlighting a substantial commitment to global diplomacy.
Specific expenditures include N82.04 million for a trip to Ghana and significant sums for trips to destinations like the United Kingdom and various European countries.
This expenditure surge comes amidst a 70.3% decline in the naira-to-dollar exchange rate during the same period, inflating costs and raising concerns about fiscal responsibility and transparency in government spending.
