FG Budgets N1.83 Billion To Convert Forfeited Property
The Federal Government has proposed spending N1.83 billion in the 2025 budget to convert properties forfeited from the Economic and Financial Crimes Commission (EFCC) into State House quarters in Abuja.
According to the proposed 2025 budget, an allocation of N1,830,783,061 has been made for the acquisition, renovation, and rehabilitation of these forfeited properties to serve as residential quarters for the State House.
The budget also includes N120.28 million for renovation works at the State House security quarters.b
THECONSCIENCE NG further observed that N5.49 billion has been allocated for the annual maintenance of the presidential villa, highlighting the significant resources earmarked for the upkeep of the nation’s seat of power.
Also, under the president’s section of the budget, N6.39 million has been allocated for the renovation of the president’s quarters at the State House in Abuja. N49.04 million has been set aside for the renovation of various facilities, including security quarters, the State House auditorium, the gymnasium, and the presidential aides’ quarters located along Ibrahim Taiwo Street in Asokoro, Abuja.
For the vice president, the budget allocates N466.86 million for the renovation of the official vice president’s quarters at the State House in Abuja. Also, N298.39 million is budgeted for the renovation of the vice president’s guest house in Asokoro, reflecting substantial investments in these facilities.
The State House Lagos Liaison Office also features in the budget, with N14.72 million allocated for the routine maintenance of its facilities. These include Dodan Barracks and the vice president’s guest houses in Ikoyi. Moreover, N140.10 million has been allocated for the completion of renovation and furnishing of the State House annex located at Dodan Barracks, Lagos.
An analysis of the proposed budget reveals that no less than N8.42 billion will be spent on renovating houses for the president, vice president, their aides, and other State House staff members in 2025.
This substantial allocation for renovations and maintenance comes amidst ongoing public debates over government expenditure priorities, especially as the nation grapples with economic challenges.
THECONSCIENCE NG earlier reported that the Economic and Financial Crimes Commission (EFCC) achieved its largest asset recovery to date with the final forfeiture of a 150,500-square-meter estate in Abuja, containing 753 duplexes and other apartments.
The statement from the commission on its official X page revealed that the property is linked to a former high-ranking government official, who is currently under investigation by the EFCC.
The ruling, delivered by Justice Jude Onwuegbuzie on December 2, 2024, follows a successful application for the final forfeiture of the estate, located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja
Justice Onwuegbuzie disclosed the respondent failed to justify retaining the property, which is suspected to have been acquired through unlawful activities.
The forfeiture was made under the commission’s mandate to ensure that individuals engaged in corruption and fraudulent activities are deprived of the proceeds of their crimes.
The ruling relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, and Section 44(2) B of the 1999 Constitution.
