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    MarketForces Africa » MarketForces News » Tinubu Commissions N21bn VP’s Residence After 14 years’ Award

    Tinubu Commissions N21bn VP’s Residence After 14 years’ Award

    Olu AnisereBy Olu AnisereJune 7, 2024 News No Comments3 Mins Read
    Tinubu Commissions N21bn VP’s Residence After 14 years’ Award
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    Tinubu Commissions N21bn VP’s Residence After 14 years’ Award

    President Bola Tinubu on Friday commissioned the official residence of the Vice-President built at the cost of N21 billion, after 14 years of initial award.

    Tinubu, represented by the Vice-President Kashim Shettima, reaffirmed the unwavering dedication of his administration to the principles of accountability, transparency and efficient utilisation of resources for the betterment of the country.

    He stated that a provision of suitable residence for the Vice-President was not merely a matter of convenience but a symbol of respect for the office and the individuals who occupies it.

    Tinubu added that the completion of the project was a testimony to the respect and affection that the President has for the Vice President of the Federal Republic of Nigeria.

    ” President Bola Tinubu deserves special commendations. We have seen how Vice President were treated in the past.

    ” With the present dispensation, it is a different ball game,” he said

    The President said that the decision to complete the project after going through the required due process was highly commendable.

    According to him, “it is not secret that the project had faced numerous challenges over the years, including delayed and abandonment by the previous administration.

    ” However, rather than dwell on past shortcomings, we have chosen to take this opportunity to demonstrate our resolve to confront obstacles head on.

    ” And to deliver on the promises made to the Nigerian people in line with our Renewed Hope Agenda which has the completion of inherited projects, as one of it’s cardinal objectives.

    ” As we commission this state of the art edifice, the official residence of the Vice-President, we are fulfilling a long standing commitment and reaffirming our unwavering dedication to accountability, transparency and efficient utilisation of resources for the betterment of the our nation.

    ” I hold a very strong opinion that abandoning projects after substantial expenditures has been incurred is inherently wasteful.

    ” It is in the best interest of the government and the public to see them through to completion,” he said

    Tinubu expressed gratitude to the FCT Administration for taking up the responsibility and feeling duty bound to complete the project to avoid wastage of taxpayers money.

    Earlier, the FCT Minister, Nyesom Wike, said that the project was awarded in 2010 at the cost of N7 billion and was abandoned in 2015.

    ” It was in January this year (2024), that we had to review the project to N21 billion, from N7 billion, that means additional N14 billion.

    ” For a Vice-President residence to take 14 good years and then Mr President, within a year, made it a reality; this is what is called, renewed hope,” he said.

    Wike recalled that when he came on board in August 2023, the project site was a bush.

    “I therefore, went to the  President and told him criminals had taken over the place and the President directed that I should make sure that the project is completed,” he said.

    The Minister thanked the President for supporting the completion of the project and ensuring his Vice lived in a comfortable environment. #Tinubu Commissions N21bn VP’s Residence After 14 years’ Award

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    Bola Ahmed Tinubu Kashim Shettima wike
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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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