The First Lady also accounted for a significant portion of the foreign exchange spending in 2024. The government spent N149.79m on her trip to France in January 2024 and allocated N202.39m for her trip to Mozambique in March.
The Nigerian Presidency spent a staggering N23 billion on foreign exchange for international trips in 2024, a 23% increase from 2023, as President Bola Tinubu, Vice President Kashim Shettima, and First Lady Oluremi Tinubu embarked on high-cost diplomatic engagements.
Data from BudgIT’s GovSpend tracker reveals that the President’s trips alone consumed over N7.38 billion, including N1.04 billion for an Ethiopia visit and N5.07 billion for air fleet maintenance. The rising expenses come as the naira’s depreciation exacerbates the cost of Nigeria’s global diplomatic presence.
Officials defend the spending as “vital for international relations,” but critics argue it reflects fiscal recklessness amid economic hardship. The Vice President’s trips cost nearly N750 million, while the First Lady’s travels exceeded N478 million, including N202 million for a Mozambique visit.