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BUSINESS & ECONOMY

The Nigerian presidency has set aside N1.6 billion for purchase of brand new cars and spares for the fleet in 2022.⁣

There’s plenty of talk on how much Nigeria will be borrowing to fund the 2022 budget.⁣
The Nigerian presidency has set aside a whopping N1.6 billion for purchase of brand new cars and spares for the fleet in 2022.⁣

This line item can be found in the budget proposal President Muhammadu Buhari presented before a joint session of the National Assembly on Thursday, October 7, 2021.⁣

According to the estimate, the ongoing phased replacement of vehicles and spares will cost the Nigerian taxpayer N1.6bn when juxtaposed with the N436m it cost the federation in the 2021 budget proposal.⁣

The N16.39 trillion budget of ‘Economic Growth and Sustainability has a deficit of N6.26 trillion.⁣

SOURCE; INSTAGRAM

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