Today: June 15, 2024
December 1, 2023
1 min read

Amid economic crisis, Wike proposes N15bn for VP’s new home

The Federal Capital Territory Administration (FCTA) is set to allocate N15 billion for the construction of a new residence for the vice president, as disclosed by FCT Minister Nysom Wike during the defense of the N61.5 billion 2023 supplementary budget. The project, initially approved in 2010 at N7 billion, was abandoned, but the current administration aims to revive it with a revised cost of N15 billion.

Wike proposes an initial N5 billion in the 2023 FCT supplementary budget to kickstart the project, titled “Design and Construction of Vice President’s Residence at the cost of N5 billion.”

See also  Buhari's government failed to address security issues effectively - Defense minister

Addressing concerns from lawmakers, Wike emphasized that the project aims to provide a “befitting residence” for the vice president, with completion expected by May 2024. Additionally, the Federal Government’s supplementary budget includes N2.5 billion for the renovation of the current VP residence, along with another N3 billion for the renovation of the VP’s residence in Lagos. The overall budget also allocates N8 billion for the official residences of the president in Abuja and Lagos.

See also  BREAKING: NLC and TUC declare nationwide strike on nov 14 over AJaero issue in Imo

Critics argue that such expenditures on luxury accommodations amid economic challenges are insensitive. Despite public backlash, the government remains focused on enhancing the comfort of top officials. President Tinubu and his administration have urged patience from Nigerians, defending the allocations.




In an unusual move, Wike proposes spending N2.8 billion on publicity for the FCTA, citing the need to generate revenue by publishing essential information. The budget estimates include funds from various sources, such as N25.7 billion from the Paris Club refund, N14.3 billion from IPPIS/PAYE tax liabilities, N5 billion special intervention fund, N9.4 billion from internally generated revenue, and N7 billion from the infrastructure support fund. The proposed budget comprises N12.9 billion for overhead costs and N48.6 billion for the capital component.

Leave a Reply

Your email address will not be published.

Previous Story

150 prisoners freed as FG raises N585m to settle fines

Next Story

Nigerian nurse faces sack and deportation in UK for offering prayers to ailing patient

Latest from Blog

NLC, TUC picket IBEDC in Ogun

Members of the organized labour in Ogun State on Monday protested against the federal government’s elimination of power industry subsidies and hike in electricity

Ogun CJ frees 3 inmates

As part of its efforts to decongest correctional facilities across the Ogun state, the state’s Chief Judge, Justice Mosunmola Dipeolu has granted amnesty to

Two killed in Ogun cult clash

Two persons have been reportedly killed on Sunday in a cult clash in Abeokuta, Ogun State capital. The victims, allegedly members of the Eiye

Ogun evacuates, rehabilitates destitute

The Ogun State government has begun evacuation and rehabilitation of destitute with mental disorders who constitute environmental nuisance to communities across the state. Hon.

Pelican valley lights up Ogun communities

Pelican Valley estate has installed industrial solar lights in over ten neighboring communities in Ogun state. The community includes Kobape, Egbeda, Galatia, Masha, Mosunmore,

Ogun  IPAC gets new chairman

Comrade Sanyaolu Abayomi of Action Alliance ( AA) has emerged as the newly elected Chairman of  Inter-Party Advisory Council ( IPAC) in Ogun State.  The

OGHA passes N703.02Bn 2024 budget

The Ogun State House of Assembly has on Thursday passed N703,028,013,431.64 as the Year 2024 Appropriation bill. The bills which was earlier presented to

Ogun set to distribute 5000 CofO

The Ogun state government will distribute 5000 Certificates of Occupancy (C of O) to beneficiaries on Friday, December 1 2023. According to a statement
Go toTop

Don't Miss

Shettima forms panel for human capital development

The HCD program focuses on Health and Nutrition, Labour Force