• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
Nairametrics
Home Economy

Peter Obi says the N60 billion allocation for the purchase of SUVs for lawmakers is troubling

Cyrus Ademola by Cyrus Ademola
November 9, 2023
in Economy
Peter Obi

Peter Obi

Share on FacebookShare on TwitterShare on Linkedin

The presidential candidate of the Labour Party, Peter Obi, has described the N60 billion SUV allocation for federal lawmakers as troubling, noting that the funds should have been redirected to the health care system.

Obi, who made this statement on Thursday on his X handle, said the allocation is part of the mismanagement of funds that now characterized the national trend.

Furthermore, the former Anambra governor said the lawmakers should have opted for a Nigerian-made vehicle such as Innoson or Nord, thus promoting domestic production in the country.

MoreStories

African countries with the highest borrowing rates in September 2025 

Zambia cuts interest rate to 13.5% as inflation slows

February 11, 2026
Nigerian public officials get N721 billion in bribes in 2023

States’ foreign debt service rises 25.77% to N455.38 billion in 2025 

February 11, 2026
  • “The recent expenditure of N60 billion for the purchase of SUV vehicles for about 400 legislators is a continuation of the troubling trend in our nation today.
  • We have continued to abandon the critical areas of development measurement while expending scarce resources on needless luxury and creating comforts for those elected to serve the people.
  • Our primary healthcare, which is the foundation of health, a critical development index measure, has collapsed, leading to our surpassing India, a country 7 times our population, in infant mortality, a very saddening situation.
  • “To allocate such a huge amount, which is more than what we allocated to our primary health care, is nothing but troubling.
  • One-third of that amount, with proper negotiation, would have given them locally manufactured SUV vehicles from Innoson Motors, PAN, or any local auto assembly plant, to help boost our economy and create and retain jobs,” he said.

Noting that during his tenure as Anambra governor, he purchased only less expensive vehicles for members of his cabinet, Obi stated that such a trend should be replicated at the federal level to reduce cost.

  • “Upon my being sworn in as the then Governor of Anambra State, I observed that our State High Court Judges, State Government Permanent Secretaries, and newly appointed State Commissioners had no vehicles.
  • “Anambra State Government had then ordered two bulletproof SUV vehicles for my use. I cancelled the order and used the same money to negotiate concessionary pricing with Peugeot Automobiles to supply us Sixty 406 vehicles, which was enough for all the cabinet members including myself and my deputy governor.
  • We used the vehicles for our first tenure and were able to commence the work of doing more in the areas of health, education, and lifting people out of poverty.
  • “Nobody would contemplate this kind of expenditure under my administration,” Obi added.

What You Should Know

In October, the National Assembly leadership declared the purchase of exotic Sports Utility Vehicles (SUVs) worth N160 million each for a lawmaker and bulletproof vehicles for principal officers.

The SUVs for each of the 109 Senators and 360 members of the House of Representatives are estimated at N57.6 billion.

As a result, the National Assembly’s allocation of N160 million for the purchase of SUVs for 469 lawmakers has been met with strong public disapproval, given the economic crisis in the country.

The recent expenditure of N60 billion for the purchase of SUV vehicles for about 400 legislators is a continuation of the troubling trend in our nation today. We have continued to abandon the critical areas of development measurement while expending scarce resources on needless

— Peter Obi (@PeterObi) November 9, 2023


Add Nairametrics on Google News
Follow us for Breaking News and Market Intelligence.
Tags: Peter ObiSUV Allocation
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

Next Post
Down goes the naira; Hits new all time low of N996/$1 at official NAFEM

Down goes the naira; Hits new all time low of N996/$1 at official NAFEM

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

rabafast

nairametrics








DUNS

Follow us on social media:

  • HOME
  • ABOUT NAIRAMETRICS
  • CONTACT US
  • DISCLAIMER
  • ADs DISCLAIMER
  • COPYRIGHT INFRINGEMENT

© 2026 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Login
  • Sign Up

© 2026 Nairametrics