Peterside Criticizes Tinubu Government Over N90 Billion Hajj Subsidy

Peterside Criticizes Tinubu Government Over N90 Billion Hajj Subsidy

Published on May 17, 2024 at 8:05 AM
By Noah Abdulsalam

Elder statesman Atedo Peterside has slammed the federal government for allocating N90 billion to subsidize the cost of the 2024 Hajj pilgrimage, under the leadership of Bola Tinubu…..read Also Details Of Tinubu’s Meeting With Faye Revealed

The founder of Stanbic IBTC Bank Plc criticized the Tinubu-led administration for repeating the mistakes of previous governments, sending conflicting signals to Nigerians.

Vice President Kashim Shettima had announced President Tinubu’s approval of the N90 billion subsidy during the 2024 inaugural hajj airlift in Birnin Kebbi, Kebbi capital.

In an interview on Channels Television, Peterside expressed concerns about the government’s expenditure, which he believes does not align with the seriousness required to rescue the economy.

While acknowledging the privilege of religious tradition, Peterside emphasized the detrimental impact of repeating past mistakes on the economy and investor confidence. He cited previous instances such as luxury SUV purchases, extravagant trips, and unclear supplementary budget items as part of a concerning trend.

Peterside stressed that the issue extends beyond religious pilgrimage, characterizing the subsidy as a setback for the economy and a misalignment with efforts to correct past mistakes.

The criticism from Peterside underscores broader concerns regarding fiscal responsibility and strategic allocation of public funds under the Tinubu administration.