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Amid economic frustrations FG burns N5bn on Lagos VP’s residence
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Despite ravaging hunger and ongoing economic challenges and escalating inflation affecting millions of Nigerians, the Federal Government has come under scrutiny for allocating a significant N5 billion towards the renovation of the Vice President’s official residence in Lagos.
In November 2023, the Federal Government outlined a supplementary budget of N2.17 trillion, which included N3 billion specifically allocated for refurbishing the Vice President’s Lagos residence and an additional N2.5 billion for his official quarters at the Aso Rock Villa in Abuja. These expenditures were part of an effort to upgrade government infrastructure, yet they have sparked widespread concern among citizens facing economic hardships.
According to findings from GovSpend, a civic technology platform that monitors federal expenditures, the actual amount spent on the Vice President’s Lagos residence renovations in 2024 totaled N5,034,077,063.
This sum, spent between May and September, exceeded the initial budgetary estimates, raising questions about the use of public funds amid broader financial constraints.
A closer look at the spending details shows that on May 31, 2024, the State House disbursed N2,827,119,051 to Denderi Investment Limited, an engineering firm, to undertake renovations on the Vice President’s Lagos residence.
Later, on September 5, 2024, additional payments were made for further work on the property, including N726,748,686 from the Office of the Chief of Staff for additional renovations, and N1,480,209,326 for a second phase of the project.
The substantial scale of these allocations has drawn attention from both the public and civil society organizations advocating for fiscal responsibility.
In addition to the Lagos renovation costs, the Federal Capital Territory Administration (FCTA) announced in November 2023 a plan to construct a new residence for the Vice President in Abuja, at an estimated cost of N15 billion. FCT Minister Nyesom Wike presented this plan during a House of Representatives committee session to justify the FCTA’s supplementary budget of N61.5 billion.
The Socio-Economic Rights and Accountability Project (SERAP), a prominent civil rights organization, criticized these expenditures, labeling them as misaligned with the nation’s current financial challenges and a violation of constitutional principles. SERAP’s Deputy Director, Kolawole Oluwadare, highlighted the strain that debt servicing places on the country’s budget, with an estimated 30 percent (N8.25 trillion) of the 2024 budget of N27.5 trillion earmarked for debt payments. Oluwadare argued that allocating billions for a new vice-presidential residence in such times represents a breach of public trust.
Other advocates have voiced similar concerns. Auwal Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, questioned the sincerity of the government’s commitment to reducing governance costs, pointing out that budget allocations for executive expenses have seen minimal cuts in the past 16 months. Likewise, Debo Adeniran, Chairman of the Centre for Anti-Corruption and Open Leadership, emphasized the need for a constitutional framework to control government spending, suggesting that a new, more restrictive constitution could help curb excessive financial allocations in the future.
These calls for restraint underscore the pressing need for policy decisions that prioritize public welfare, particularly as citizens face economic pressures on a daily basis.
By Kayode Sanni-Arewa
The Independent National Electoral Commission (INEC), Ekiti State Office, on Thursday announced the extension of the ongoing collection of Permanent Voter Cards (PVCs) has been extended from Friday, 12th June to Sunday, 14th June 2026.
The was contained in a statement by the state Resident Electoral Commissioner, Dr Bunmi Omoseyindemi in Ado Ekiti
The statement read: “The Independent National Electoral Commission (INEC), Ekiti State Office, wishes to inform all registered voters in the State that the ongoing collection of Permanent Voter Cards (PVCs) has been extended from Friday, 12th June to Sunday, 14th June 2026
“The extension is intended to provide an additional opportunity for eligible voters who are yet to collect their PVCs to do so before the Governorship Election scheduled for Saturday, 20th June 2026.
“Collection of PVCs will continue at the designated Local Government Area Offices of the Commission during official hours. Voters are advised to collect their PVCs personally, as collection by proxy will not be permitted.
INEC urges all registered voters who have not collected their PVCs to take advantage of this extension, as the PVC remains the only means of identification for voting on Election Day.
“The Commission remains committed to ensuring that every eligible voter is given the opportunity to participate in the electoral process.”
US President Donald Trump on Thursday said he was calling off strikes on Iran and flagged the signing of a possible deal with Tehran after top-level talks.
“Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have… cancelled the scheduled strikes and bombings against Iran this evening,” Trump said on his Truth Social network.
“Time and place of the signing to be announced shortly,” he added.
Iran Warns Of ‘Endless Quagmire’
Iran had warned Washington on Thursday that it risked wading into an “endless quagmire” of war and soaring energy prices, after Trump vowed to launch a new round of airstrikes and to seize an island oil terminal.
Iran’s chief negotiator in talks with the Americans, parliamentary speaker Mohammad Bagher Ghalibaf, issued his stark warning after the two sides exchanged overnight fire and Trump threatened that US forces would hit “VERY HARD TONIGHT”.
“Wrong strategies and impulsive decisions will reset the entire board for the worse, explode energy infrastructure and markets and create an endless quagmire that you will be stuck in for years,” Ghalibaf said.
The war, which began on February 28 with a wave of US-Israeli strikes on Iran, was paused under an April truce, but efforts to hammer out a permanent end to the fighting have since stalled.
US forces have also, since the ceasefire, hit radar arrays and disabled Iranian ships, and Tehran has maintained a chokehold on shipping through the Strait of Hormuz.
“At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela,” Trump said, in a post on his own social media platform, referring to a Gulf island that hosts Iran’s biggest oil export terminal.
General Ali Abdollahi, head of the Iranian military’s central headquarters, warned that “if the United States once again seeks to carry out attacks against heroic Iran, it would receive a harsher response than before, and the flames of war, in addition to creating insecurity in the region, will become more widespread and far-reaching”.
The conflict has destabilised oil and gas prices, fuelling inflation and fears of recession in many economies.
On Thursday, the World Bank lowered its global growth forecast to its lowest level since the coronavirus pandemic, predicting it would drop to 2.5 percent in 2026, from 2.9 percent last year.
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Hon. Dr. Olotu Akpodiete JP, who’s vying for the Ughelli North, South and Udu Federal Constituency seat in the House of Representatives, has sent his congratulations to Rt. Hon. Frederick Agbedi. Agbedi’s new role as Minority Leader was announced today during plenary by Speaker Rt. Hon. Tajudeen Abbas.
Dr. Akpodiete said Agbedi’s emergence shows the trust and confidence his colleagues have in him. He described the new Minority Leader as dependable, strong-willed, and a politician of principle who acts on conviction rather than convenience.
Rt. Hon. Agbedi represents Sagbama/Ekeremor Federal Constituency in Bayelsa State. Before this appointment, he led the PDP Caucus in the House and also served as Bayelsa PDP chairman. He remains a committed PDP member and believes the party has a vital role as a strong opposition.
Akpodiete said he’s confident Agbedi will use his experience, competence and character to serve the House, the legislature, and Nigerians well.
Signed:
Hon. Dr. Olotu Akpodiete JP
House of Representatives Candidate Hopeful
Ughelli North, South and Udu Federal Constituency
INEC extends PVCs collection in Ekiti for 72hours
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