N5bn Yacht Listed In Supplementary Budget Not For Tinubu – Presidency

EKO HOT BLOG reports that the presidency has confirmed the plan to purchase a yacht worth N5 billion in the supplementary budget forwarded to the 10th Senate.

This online media platform earlier reported that the federal government is planning to spend N5 billion to purchase a presidential yacht in the 2023 Supplementary Budget.

The Presidency, however, in a statement released by the Special Adviser to the President on information and strategy, Bayo Onanuga said the yacht listed in the supplementary budget is for the Nigerian Navy and not for President Bola Tinubu.

He said, in a statement released on Thursday, “What was named as Presidential Yacht in the budget is an Operational Naval boat with specialized security gadgets suitable for high profile operational inspection and not for the use of the President.

“The Naval boat was ordered by the navy under the previous administration. President Tinubu has consistently said that government is a continuum as he inherited both assets and liabilities of past administrations.

“The payment request for the boat was part of the committed obligation submitted by the office of the Chief of Naval Staff to the Ministry of Defence. The total of the submitted requests was in excess of N200 billion out which N62 billion was approved by the President.

“President Tinubu is focused on securing our country and territorial waters. The Federal Government under his leadership is investing more resources to enhance greater economic output from our oil and gas, marine and blue economy.

“In President Tinubu, we have a leader who understands the economic challenges being faced by the masses. His administration is working very hard to confront and surmount those challenges. Nigerians will soon get the benefits of the ongoing reforms that will certainly lead to a buoyant and improved quality of life for all citizens.”

It was not immediately clear how an Operational Naval Boat was named the Presidential Yacht in the budget. But all around the world, presidential yachts are usually maintained by the navy.

Meanwhile, the national assembly has struck out the N5 billion earmarked for the “Presidential Yacht” from the budget it passed on Thursday.

The legislature transfered the appropriation to the N5.05 billion already proposed for the students’ loan programme, taking the total to N10 billion.

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