News
Presidency Budgets ₦1.6bn For New Armoured Cars, Spares, In 2022
President Muhammadu Buhari has presented the 2022 aggregate expenditure projected to be ₦16.39 trillion to the National Assembly.
The FG prioritized spending on Defence and Security (15%), Infrastructure (8.9%) and education (7.9%).
It also earmarked about ₦1.6 billion for the procurement of brand new vehicles to replace the aging Presidential fleet.
Nigerian President, Major General Muhammadu Buhari (retd.), on Thursday presented the 2022 aggregate expenditure projected to be ₦16.39 trillion to the National Assembly.
The budget, tagged, ‘Investing for a resilient future : Critical infrastructure and human capital’, which was approved by the Senate, is 12.5% higher than the 2021 budget.
The Federal Government prioritized spending on Defence and Security (15%), Infrastructure (8.9%) and education (7.9%), with the sectors getting a combined N5.15 trillion allocation in the 2022 Budget proposal.
According to the highlights of the 2022 budget, the Federal Government also earmarked about ₦1.6 billion for the procurement of brand new vehicles to replace the aging presidential fleet.
Cars in the current Presidential fleet includes the armoured Mercedes-Maybach S-Class S 560 as well as armoured Lexus LX 570 and Toyota Land Cruiser LC 200 SUVs. According to reports, this allocation will also cover for spares as well as maintenance costs.
We can’t say if the Presidency will be upgrading to the latest Mercedes-Benz S 680 GUARD 4MATIC, but the new livesaving 4.2-ton armored limousine cost of around $540,000.
This price amounts to ₦222 Million in naira, and it will rise to over ₦400 Million when taxes and destination charges are added.
Other highlights of the budget include the proposed ₦650 million as counterpart funding for the Mambilla Power Project and ₦430 million for the 215 MW Kaduna LPFO/gas power station.
There is also ₦20 million for the concession of the 40MW Kashimbilla hydropower plant and ₦450 million for its transmission line and consultancy fee.
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