‘N5bn For Presidential Yacht, N5.5bn For Students’ Loan’ — Reactions Trail 2023 Supplementary Budget

Eko Hot Blog reports that angry reactions are trailing some provisions in the 2023 supplementary budget proposal presented by President Bola Tinubu.

The president transmitted the budget, which was approved by the Federal Executive Council (FEC) on Monday, to the National Assembly on Tuesday.

As details of the budget emerged on Wednesday, several Nigerians criticised what they considered wasteful spending.

 

The president proposed the sum of N5.095 billion for the purchase of a Presidential yacht under the capital expenditure of the Nigeria Navy and N5.5 billion for education loan fund.

The budget proposal also included N4 billion for the renovation of the president’s residence at Dodan Barracks in Lagos State.

Likewise, N3 billion was proposed for the renovation of the vice president’s residence in Lagos.

Additionally, the budget proposal includes a provision of N1.5 billion for the purchase of vehicles for the Office of the First Lady.

The proposal also includes provision for welfare and development initiatives such as N50 billion for the construction of 40,000 units OF RENEWED HOPE mini-estates across the federation, N400 billion for the ‘cash transfer’ programme, N10 billion for the construction of Court of Appeal, N15 billion for the recruitment of 10,000 Police Constables, N15billion for the rehabilitation of Third Mainland Bridge, and N11 billion for the balance payment for Eko Bridge.

In June 2023, Tinubu addressed Nigerians, saying “I feel your pains” amid economic hardship, urging them to “sacrifice a little more.”

The president is facing criticisms that his administration is not partaking in the sacrifice.

Here are some reactions on X (formerly known as Twitter):

 

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