Vanity and Waste Tinubu’s N39bn ICC Renovation and the Shame of Extravagance
At a time when Nigerians are groaning under the weight of inflation, food insecurity, joblessness, and decaying infrastructure, President Bola Ahmed Tinubu’s decision to spend ₦39 billion renovating the International Conference Centre (ICC), Abuja, and then renaming it after himself is a stunning act of self-indulgence and tone-deaf leadership.
The ICC was originally constructed in 1991 by Gen. Ibrahim Badamasi Babangida at a cost of just ₦240 million. Adjusted for over three decades of inflation, the cost of building a brand new, state-of-the-art conference centre today would be between ₦25 billion and ₦30 billion. That the government spent ₦39 billion merely to renovate the old one without major expansion or technological overhaul exposes just how bloated and questionable the expenditure truly is.
More insultingly, Babangida never named the centre after himself, even though he initiated and completed it. Tinubu, however, after refurbishing it, decided to stamp his name on it converting a national landmark into a personal monument. It reeks of egotism and disrespect for public trust.
The ICC project is only one in a disturbing pattern of vanity-driven and excessive spending under this administration.
The Lagos to Calabar Coastal Highway, an ambitious 700-kilometre project, is has been awarded at staggering costs of ₦15 trillion, with only about 30 kilometres completed so far. It has displaced communities, triggered public outrage, and remains a drain on already overstretched national resources.
Adding to the spree, the presidency recently acquired a new Airbus A330 aircraft for $100 million, despite an already oversized presidential fleet. At a time when the naira is battered and millions cannot afford transport fare, the government is buying luxury jets.
Other wasteful allocations include:
• ₦5 billion to renovate Dodan Barracks, the President’s Lagos residence
• ₦4 billion for the Vice President’s Ikoyi residence
• ₦21 billion to complete the new official residence of the Vice President
• ₦5 billion for a presidential yacht, smuggled into the 2023 supplementary budget
To the government’s credit, the minimum wage issue has been resolved, and workers are receiving their new pay. But this gain is overshadowed by a mountain of unpaid pensions, leaving retirees in penury, and the unfulfilled agreement with ASUU, which remains a bull in a china shop threatening to plunge the university system into fresh chaos.
The administration claims to be building a legacy. But legacy is not about plastering one’s name on public buildings or cruising on billion-naira yachts. True legacy lies in reviving industries tackling insecurity and building new legacies anchored on inclusion, accountability, and shared prosperity.
At a time like this, every naira must count. Nigeria cannot afford to spend like a wealthy nation while borrowing to survive.
This is not responsible leadership.
It is reckless indulgence.
And Nigeria deserves better.
Vanity and Waste Tinubu’s N39bn ICC Renovation and the Shame of Extravagance
At a time when Nigerians are groaning under the weight of inflation, food insecurity, joblessness, and decaying infrastructure, President Bola Ahmed Tinubu’s decision to spend ₦39 billion renovating the International Conference Centre (ICC), Abuja, and then renaming it after himself is a stunning act of self-indulgence and tone-deaf leadership.
The ICC was originally constructed in 1991 by Gen. Ibrahim Badamasi Babangida at a cost of just ₦240 million. Adjusted for over three decades of inflation, the cost of building a brand new, state-of-the-art conference centre today would be between ₦25 billion and ₦30 billion. That the government spent ₦39 billion merely to renovate the old one without major expansion or technological overhaul exposes just how bloated and questionable the expenditure truly is.
More insultingly, Babangida never named the centre after himself, even though he initiated and completed it. Tinubu, however, after refurbishing it, decided to stamp his name on it converting a national landmark into a personal monument. It reeks of egotism and disrespect for public trust.
The ICC project is only one in a disturbing pattern of vanity-driven and excessive spending under this administration.
The Lagos to Calabar Coastal Highway, an ambitious 700-kilometre project, is has been awarded at staggering costs of ₦15 trillion, with only about 30 kilometres completed so far. It has displaced communities, triggered public outrage, and remains a drain on already overstretched national resources.
Adding to the spree, the presidency recently acquired a new Airbus A330 aircraft for $100 million, despite an already oversized presidential fleet. At a time when the naira is battered and millions cannot afford transport fare, the government is buying luxury jets.
Other wasteful allocations include:
• ₦5 billion to renovate Dodan Barracks, the President’s Lagos residence
• ₦4 billion for the Vice President’s Ikoyi residence
• ₦21 billion to complete the new official residence of the Vice President
• ₦5 billion for a presidential yacht, smuggled into the 2023 supplementary budget
To the government’s credit, the minimum wage issue has been resolved, and workers are receiving their new pay. But this gain is overshadowed by a mountain of unpaid pensions, leaving retirees in penury, and the unfulfilled agreement with ASUU, which remains a bull in a china shop threatening to plunge the university system into fresh chaos.
The administration claims to be building a legacy. But legacy is not about plastering one’s name on public buildings or cruising on billion-naira yachts. True legacy lies in reviving industries tackling insecurity and building new legacies anchored on inclusion, accountability, and shared prosperity.
At a time like this, every naira must count. Nigeria cannot afford to spend like a wealthy nation while borrowing to survive.
This is not responsible leadership.
It is reckless indulgence.
And Nigeria deserves better.
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