Obi Questions N20.5bn Renovation Budget: Equates to Annual Salaries of 3,000 Professors

• Labour Party’s presidential candidate, Peter Obi, criticizes APC administration for proposing N20.5bn for VP Shettima’s residence, questioning national priorities
• Obi points out the contrast in allocating funds, citing N5bn for student loans compared to N20.5bn for the VP’s housing

In a recent revelation, Mr. Peter Obi, the Labour Party’s presidential candidate, expressed concern about what he deems a significant misuse of funds by the APC administration under President Bola Ahmed Tinubu.

Obi, utilizing his X handle on Monday, highlighted the proposed allocation of N20.5bn for the renovation of Vice President Kashim Shettima’s residence. He emphasized that this colossal sum could cover the annual salaries of 3,000 professors in Nigerian universities, each earning around N400,000 monthly and approximately N5 million annually.

Previously criticizing the government for sponsoring over 1400 delegates to Dubai for COP28, Obi questioned the wisdom behind allocating over N20bn for both renovation and new office construction for the Vice President.

“While still dissecting the 2024 fiscal budget presented to the National Assembly last week, I cannot help but question our national priorities. Recent developments in our nation during these critical times are hard to comprehend,” Obi remarked.

The news of a proposed N15bn for a new residence for the Vice President drew sharp criticism from Obi. He pointed out that a supplementary budget had already earmarked N2.5bn for renovating the Vice President’s Abuja residence. Additionally, N3bn was allocated for renovating the Vice President’s Lagos residence during the budget presentation.

“This sums up to a staggering N20.5bn for the Vice President’s housing, a perplexing decision considering our status as the world’s poverty capital, with an increasing number of people plunging into poverty and many unsure of their next meal,” said Obi.

Obi underscored the stark contrast in priorities by paying attention to the allocation of N5bn for student loans, which remains undispersed. He asserted, “We are allocating four times the amount needed to educate all indigent Nigerian students to accommodate the Vice President. This misalignment in resource allocation raises serious concerns.”

Obi urged leaders to exhibit prudence and sensitivity to the masses’ plight, emphasizing the need for compassionate and frugal leadership in the pursuit of a new Nigeria.