REVEALED: How Aso Rock Spent N244 Million On Tyres In One Day

A report has revealed how the State House allocated a significant amount of N244,654,350 for the procurement and distribution of tyres in a single day.

Research and information obtained from govspend, a platform that records the expenses of the Presidential Villa, indicated that the State House made payments for the delivery of an unspecified quantity of bulletproof tyres and Westlake tyres during the week that marked the first anniversary of President Bola Tinubu’s administration.

Recall that President Tinubu assumed office after his predecessor, Muhammadu Buhari, on May 29, 2023.

Records displayed that payments of N200,583,390, N38,070,000, and N6,000,960 were made for these purchases on May 21, 2024.

The documents disclosed that two distinct payments were processed for the procurement and distribution of tyres (quantity unspecified) for bulletproof vehicles and an additional five armoured bulletproof tyres to Obi-Wealth Enterprises Nigeria Limited (RC-640684) for the amounts of N200,583,390 and N38,070,000.

A brief search on the Corporate Affairs Commission (CAC) website revealed that the company is currently inactive.

Hommy & Fay Investments Limited, an active entity on the CAC platform, managed the other portion of the delivery of an unspecified number of Westlake tyres (315/80R22) for N6,000,960.

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However, efforts by Daily Trust to obtain feedback from the presidency regarding the tyre expenses were unsuccessful, as numerous calls reportedly placed to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, were unanswered.

Also, the message sent to him remained unanswered at the time of compiling this report.

24 hours following the tire transactions, Minister of Budget and National Planning, Atiku Bagudu, expressed regret to Nigerians for the widespread difficulties.

During the ministerial sectoral update, he mentioned that the policies of the Tinubu-led administration were progressing as planned despite the challenges of currency devaluation and inflation that have hindered economic advancement.

“So what’s the answer to all of these? It’s to restore macroeconomic stability that will ensure that investors, both domestic and international put their face in our economy once again. And we are all doing this without a blame game. And I apologize for the pain that they may occasion, but they are necessary… Is our strategy, right? Absolutely. We believe our strategy is right, but it requires occasional calibration. Put good money to use,” he had said.

NIGERIA’S INFLATION

It is common knowledge that Nigeria’s inflation has reached a 28-year high, resulting in a worsened cost of living. This situation is largely attributed to the policies implemented by President Tinubu.

Despite numerous pleas to the citizens regarding the current hardships, critics have accused the Tinubu administration of engaging in “frivolous spending.” This has caused discontent among the population.

The president faced backlash the last time he urged Nigerians to make sacrifices for the nation’s progress.

During a press conference at Dodan Barracks in Lagos after observing the Eid-el Kabir prayer, Tinubu emphasized the importance of sacrifice in making the nation great.

This statement sparked reactions from Nigerians, civil society organizations, and the opposition Peoples Democratic Party (PDP), among others.

Dr Abdulsalam Kani, an economist and lecturer at Saadatu Rimi University of Education in Kumbotso, Kano, as well as the Director of the Fiscal Discipline and Development Advocacy Centre (FIDAC), expressed disappointment in the government’s failure to fulfil its promises to the Nigerian people.

“The government has removed fuel subsidy and increased electricity tariff, plunging many into difficulty. Nigerians were promised that Port Harcourt refinery will begin production in December last year, and that has not happened. Despite these and the failure of the administration to fulfil promises, they are making plans to buy new aircraft for the president and vice president,” he said.
He said the government had equally failed to address rising inflation which is above 33 per cent at the moment.