These reports are as yet unconfirmed. Read more at the break.
Nigerian senators have, in the past few days, furtively taken delivery of ownership documents for the latest Toyota Land Cruiser Prado jeeps worth at least N1.2 billion, in a new purchase that has lifted the senate’s renowned lavish automobile spending to a new high.
The deal is said to have been executed by the National Assembly Service Commission, the statutory contract arm of the lawmaking body. It is not certain how much the transaction is worth on paper, but confirmations from Toyota showed the cars sell for $68,920, about N11.027 million per unit.
For 109 senators, the total cost stands at N1.201 billion. The profit margin, according to dealers, should be about $7400 (about N1.2million) each. The total cost is expected to be N1.33billion.
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