News
Presidency spends N34bn on international travel in two years
The figure is according to data compiled from GovSpend, a government spending tracker managed by BudgIT.
The records, which cover transactions by the State House, Presidential Air Fleet, the Office of the Chief of Staff, and operations linked to the President, Vice President, First Lady, and their aides, show a sharp swing in spending patterns between 2024 and 2025.
An analysis of the data shows that 2024 accounted for the bulk of the expenditure, with total forex purchases of N29.35bn, while 2025 recorded N5.04bn.
This represents a year-on-year decline of 82.8 per cent, aligning with broader trends in the foreign exchange market where the naira stabilised following policy reforms and improved dollar inflows.
The transactions largely relate to the purchase of foreign currencies for official trips, aviation operations, estacodes, training programmes, and logistics for international engagements involving top executive officials.
While the Presidency has maintained that such trips are necessary for diplomacy, investment promotion and bilateral relations, the scale and timing of the spending have continued to draw public scrutiny amid Nigeria’s fiscal constraints and forex shortages.
In 2024, forex purchases were heavily concentrated in the first half of the year, coinciding with a period of heightened exchange rate volatility and sustained pressure on the naira.
One of the most prominent spenders during the year was the Presidential Air Fleet, which alone accounted for several multi-billion-naira transactions described as “presidential air fleet forex transit funds.”
The Presidential Air Fleet, managed by the Nigerian Air Force, is responsible for the air transport needs of the President, Vice President, and senior government officials.
Despite its strategic role, the cost of maintaining the fleet has long been a subject of public scrutiny and criticism, particularly amid Nigeria’s fiscal pressures and rising debt service obligations.
Between March and May 2024, the Presidential Air Fleet Naira Transit Account recorded repeated purchases of about N1.27bn each on March 7, March 9, April 6, May 11 and May 25, alongside larger tranches such as N5.08bn on April 23 and N2.43bn on May 8.
These aviation-related transactions show the high cost of maintaining and deploying the presidential fleet for overseas travel.
Additional transfers of N205m in July, N34m, N1.25bn, N2.21bn, N160.4m, N1.24bn and N902.9m in August further swelled the air fleet’s forex bill.
Smaller amounts followed later in the year, including payments in September and December, bringing the air fleet’s cumulative forex-linked transactions in 2024 into several billions of naira.
Beyond aviation, the State House Headquarters also recorded extensive forex purchases throughout 2024.
In February alone, the State House spent over N2.5bn on forex linked directly to specific presidential and vice-presidential trips.
These included N426.88m for the Vice President’s trip to Switzerland, N1.04bn for the President’s trip to Ethiopia, N750m for the President’s trip to Dubai, N176.77m for the Vice President’s trip to Côte d’Ivoire, N149.79m for the First Lady’s trip to France, and N86.76m for the Vice President’s trip to Liberia.
March 2024 saw further spending tied to foreign travel by the First Lady and Vice President. Transactions included N202.39m for the First Lady’s trip to Mozambique, N144.57m for her trip to Addis Ababa, and N126.30m for a trip to London.
The Vice President’s engagements also featured, with N201.12m spent on a trip to Côte d’Ivoire and N169.54m for estacodes linked to UK and US training programmes.
From July 2024, forex purchases by the State House intensified, with multiple same-day transactions on July 17 alone.
These included N149.05m, N358.53m, N243.32m, N739.07m, and N73.07m, all tagged as forex purchases.
Additional payments were made on July 23, August 6, October 11, and October 28, with notable amounts of N569.68m, N323.14m, N246.80m, and a significant N1.36bn on October 28.
By the final quarter of 2024, spending remained elevated. In November, the State House Operations – President recorded several purchases, including N22.19m, N18.34m, N169.10m and N185.23m on November 28. December added another N736.20m on December 1, reinforcing the pattern of sustained forex demand by the Presidency throughout the year.
Cumulatively, these transactions pushed total forex purchases linked to the Presidency in 2024 to N29.35bn, making it one of the most expensive years for official foreign travel and related forex spending in recent times.
The reduction was broad-based, cutting across the Presidency, Vice Presidency and supporting offices.
Transactions in 2025 were also generally smaller in size and more sporadic, suggesting a deliberate effort to rein in forex outflows.
Data from April 30, 2025, show multiple forex purchases by State House Operations – President and Vice President, but most were in the tens of millions rather than billions of naira.
Amounts such as N535.82m, N57.94m, N32.51m, N57.81m and N23.67m dominated the April transactions.
Even the larger figures recorded in mid-2025, including N1.29bn, N1.28bn and N626m linked to the Presidential Air Fleet, were fewer and spread over several months.
By the second half of 2025, forex purchases had tapered further. August transactions included N7.67m and N11.14m, while November and December recorded modest payments by the Office of the Chief of Staff and the Presidential Air Fleet.
The overall pattern points to tighter controls and possibly improved planning around official travel as the naira stabilised in 2025.
The naira ended 2025 on a firmer note, closing at N1,429/$1 on December 31.
This was a 7.4 per cent appreciation from the N1,535/$1 recorded on the final trading day of 2024, according to official exchange rate data from the Central Bank of Nigeria.
The local currency concluded 2024 with significant depreciation, recording a 40.9 per cent loss against the dollar in the official market.
The 2025 performance marks the naira’s first annual gain since 2012, when it appreciated slightly to N157.29 from N158.99 in 2011.
The currency had depreciated every year since then, marking a major turnaround after 13 years of consistent declines.
A further breakdown of the GovSpend data also shows that aviation-related expenses remain a major driver of forex demand.
The Presidential Air Fleet consistently accounted for some of the largest transactions across both years, reflecting maintenance, fuel, leasing and operational costs that are typically dollar-denominated.
This has renewed debate over the size and cost structure of the fleet, especially at a time when many countries are reviewing the sustainability of maintaining large official aircraft inventories.
The State House and Office of the Chief of Staff accounted for smaller but still significant amounts, often linked directly to specific trips by the President, Vice President or First Lady. These include forex purchases for estacodes, accommodation, logistics and protocol obligations.
The Country Director of Accountability Lab Nigeria, Odeh Friday, earlier expressed concern about the impact of such spending on taxpayers and the need for greater transparency and accountability.
“This highlights the urgent need for a shift toward greater equality and accountability in the management of public finances,” Friday said.
He emphasised that it is critical to evaluate the outcomes of these significant expenditures, questioning whether they truly serve the interests of the Nigerian people. “Some of them are clearly wasteful expenditure,” he added.
Former Presidential Candidate of the Labour Party (LP) in the 2023 general elections, Peter Obi, has criticised President Bola Tinubu for spending much of January abroad.
Obi, in a post on his X handle on Sunday morning, noted that while leaders in other countries focus on domestic governance at the start of the year, Nigeria’s president has prioritised foreign engagements over pressing national issues.
Obi also questioned the necessity of Tinubu’s frequent foreign trips, noting that the President spent 23 days abroad in January across two trips, returning only briefly to Nigeria in between.
“While leaders in other nations prioritise domestic governance in January, Nigeria’s president prioritises international engagements over pressing national issues. This month, he spent 23 days abroad across two trips—beginning the year overseas and returning on the 17th, and departing less than 10 days on the 26th to Türkiye, where he remains as of January 31. What urgent matters continuously warrant his absence from the nation? When he does return, it often appears to be merely to welcome defectors into the APC before he jets off again.”
Governor Francis Nwifuru of Ebonyi State has removed the Commissioner for Works, Engr. Stanley Lebechi Mbam, from office with immediate effect.
The governor’s directive was contained in a statement issued on Friday by his Chief Press Secretary, Dr. Monday Uzor.
According to the statement, Mbam was directed to immediately hand over all government property in his possession, including his official vehicle, to the Secretary to the State Government.
He was also ordered to transfer the responsibilities of the Ministry of Works to the Permanent Secretary pending further directives from the state government.
The statement read in part: “The Governor of Ebonyi State, His Excellency, Rt. Hon. Francis Ogbonna Nwifuru, has directed the immediate removal from office of the Honourable Commissioner for Works, Engr. Stanley Lebechi Mbam.
“He is to hand over all government property in his possession, including his official vehicle, to the Secretary to the State Government and transfer responsibilities to the Permanent Secretary in the ministry.”
The governor, according to the statement, assured residents that his administration remained committed to effective governance and improving public infrastructure across the state.
No reason was given for Mbam’s removal.
The development comes months after Nwifuru suspended Mbam and the Commissioner for Infrastructure Development and Concession, Engr. Ogbonnaya Obasi-Abara, in February 2026 over alleged dereliction of duty.
The earlier suspension was also announced by Uzor, who directed the affected commissioners to surrender government property and official vehicles to the SSG.
Mbam’s latest removal has reportedly generated concern within the State Executive Council, particularly amid calls for improved performance by government officials.
Former Commissioner for Information and State Orientation under the administration of former Governor David Umahi, Senator Emmanuel Onwe, had recently called on Nwifuru to overhaul his State Executive Council and ensure that officials who were underperforming lived up to expectations.
The government has not indicated whether Mbam’s removal is connected to the earlier suspension or any specific issue concerning the Ministry of Works.
News
SEDC to Launch 50,000-Hectare Agro-Mechanisation Project in Enugu to Tackle Unemployment, Insecurity
The South-East Development Commission (SEDC) has concluded arrangement for the kick-off the zone-wide 50,000-hectare agro-mechanisation project in Enugu community meant to tackle insecurity, unemployment and food insecurity.
The SEDC zone-wide 50,000-hectare agro-mechanisation, which is meant to be established in each of the 15 senatorial zones of the five South-East states, would commence at a pilot scheme level on Sept. 22.
This is contained in a statement issued by the media aide to the Governor of Enugu State, Chief Uche Anichukwu, on Wednesday in Enugu.
The Managing Director of the Commission, Mr Mark Okoye, disclosed this during a community engagement at the pilot project site in Nomeh Unateze community in Nkanu East Local Government Area of Enugu State on Tuesday.
Okoye said the SEDC had, following its establishment in 2024, used the first year to do extensive studies and design a blueprint that cuts across different areas of the South-East economy.
He said the agro-mechanisation projects, remained a major part of the commission’s blueprint, explaining that it would address insecurity, unemployment, and food security.
According to him, so, what we are here for is one of our flagship initiatives, which is called the South-East Agro Mechanisation Programme or the South East Agro Development Programme.
Okoye said that the SEDC was committed to develop up to 50,000 hectares of land and that would be used for mechanised farming across the region.
“We are here for a pre-assessment, pre-flag-off visit to see the area, understand the level of work that needs to be done and ensure that contractors can start mobilising so that once we hit the site we start running.
“Because a big part of what we are looking at is how to address food insecurity and unemployment, ensuring that we are producing what we put on the table.
“We are starting with pilot programmes where we are taking 200 to 300 hectares of farmland across 15 senatorial zones and developing them to standard farms.
“Where you not only have cassava, maize, some of our staple crops, but also some cash crops. In some areas, there will be the centres for learning and centres for productivity,” he said.
Okoye said that Gov. Peter Mbah would flag off the project on Tuesday, adding the SEDC team came to assess the area, meet with the community and ensurr that all the plans are in place.
“And within the second we put this investment here, at least N4 billion or N5 billion of added investment will come in,” he said.
Okoye commended President Bola Tinubu for addressing the long yearning by the South-East for a commission to mobilise resources and coordinate development in the region.
He urged the people to reciprocate the numerous gestures by supporting the Tinubu to continue the development efforts post 2027.
He further revealed that the commission would soon roll ou an investment agency to help mobilise local and Diaspora investments for the region’s speedy development.
A community leader in the community, Chief Uche Anichukwu, described the agro-mechanisation project as one of the blessings of the APC, Tinubu and Mbah administrations to Enugu State in general and Nomeh Unateze in particularly.
Anichukwu, who is also media aide to the Governor of Enugu State, said that the Nenwe-Nomeh-Mburubu-Nara road, with a spur to Oduma, had created ready and multiple access to market for the proposed agricultural project.
Speaking, Chairman, Nomeh Unateze Town Union Caretaker Committee, Dr Chukwudi Anyianuka, and other community stakeholders, reiterated their support for the project.
They commended Tinubu and Mbah for siting the project in their community.
“We are very happy. We cannot wait to see it actualised and we promise that we are going to provide everything that is necessary to make sure that this is established.
“The Commission has taken a methodical approach to regional development.
“Rather than the pitfall of throwing money at development challenges, it undertook a study of the region and came up with a master plan, which includes this initiative, to reinvent the South-East,” Anyianuka added.
Also present at the interactive session were the members of the traditional council of Nomeh Unateze and community heads.
…As Onitsha South Mayor Empowers Workers
By Okey Maduforo, Awka
Maintenance and rehabilitation works at the recently closed First Niger Bridge are being hampered by poor lighting during night shifts and inadequate sanitary facilities at the site.
Recall that before the closure of the bridge, the Minister of Works, Engr. Dave Umahi, had disclosed that efforts would be made to carry out some of the rehabilitation works at night.
However, some of the workers at the site said poor lighting was affecting effective monitoring of activities on the bridge, while the poor sanitary condition of the area was also posing a threat to their health.
The workers made the complaints during a working visit to the bridge by the Mayor of Onitsha South Local Government Area, Chief Emeka Orji.
Orji, who was accompanied by the Secretary of the Local Government, Barr. Paul Onuachalla, and executives of the Fegge Community Landlords/Tenants Welfare Association, led by its Chairman, Chief Nnamdi Onugha, provided cooked meals and packs of bottled water to the personnel and workers at the site.
Speaking after the visit, Orji said the gesture was aimed at supporting the workers and showing solidarity with the Federal Government’s rehabilitation efforts on the bridge.
He said, “To support the workers and give them a sense of belonging, that is why we came to appreciate them. We will continue doing so from time to time as part of our Corporate Social Responsibility.”
The Mayor also disclosed that the council had provided facilities, including mobile toilets and water tanks, while arrangements were being made for water tankers to supply water to the tanks.
Orji further stressed the importance of the military presence in Onitsha South, noting that the personnel would contribute to security, rapid response and protection of the bridge, Onitsha South and parts of Ogbaru Local Government Area.
He added that the council would continue to strengthen its collaboration with security agencies to ensure maximum security across Onitsha South Local Government Area.
Earlier, after inspecting the environment with the Mayor, the Officer in Charge, who pleaded anonymity, identified poor lighting at the bridge at night as one of the major challenges confronting the personnel.
According to him, the situation makes it difficult to effectively monitor activities around the bridge, particularly during night shifts.
He also complained about the poor sanitary condition of the under-bridge environment where the personnel camp, saying they had to clean up the area themselves upon arrival.
The officer further appealed for improved accommodation and food support for the personnel.
He, however, commended the Mayor for the visit and assistance, saying the gesture made the workers feel appreciated.
“We feel loved and appreciated. We are happy seeing you around,” he said.
Africa’s richest industrialist, Aliko Dangote, has revealed that he bought his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
Reflecting on his business journey, the billionaire said he had enjoyed travelling by private jet over the years but was now comfortable using commercial flights.
He also urged wealthy Nigerians to channel more of their resources into productive investments rather than luxury assets.
Dangote particularly appealed to affluent Nigerians who spend huge sums on private aircraft to consider investing such wealth in industries and businesses that could contribute to Nigeria’s economic growth.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that directing private wealth towards productive ventures would help strengthen the economy, create jobs and provide greater opportunities for national development.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.
NDCCITMA considers the allegation misleading and wishes to set the record straight.
The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.
More importantly, the chronology of events does not support the allegation being made against NDCCITMA.
While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.
NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity
It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.
NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law
We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.
NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.
The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.
Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)
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