It’s For Navy, Presidency Explains N5.09 Billion Yacht In Supplementary Budget

The Nigerian political landscape has captured significant attention and raised numerous questions, including the inclusion of a N5.09 billion allocation for a yacht in the supplementary budget. The presidency has provided an explanation for this allocation, stating that the vessel is intended for the Nigerian Navy.

The inclusion of a N5.09 billion yacht allocation in the supplementary budget has ignited debates about government spending, transparency, and priorities. The presidency’s explanation that the yacht is intended for national security, particularly for the Nigerian Navy, is an important context to consider.

While maritime security is a critical concern, the controversy surrounding the allocation underscores the need for greater transparency, accountability, and justification for budgetary decisions. Nigeria faces a range of pressing challenges, and it is essential that government expenditures are scrutinized to ensure they align with the best interests of the citizens and the nation’s long-term development. As this case unfolds, it highlights the role of public opinion and civil oversight in shaping government decisions and budget allocations.

In the supplemental budget, the House of Representatives moved the N5 billion intended for the presidential boat to student loans.
“What’s designated as the Presidential Yacht in the budget is actually an operational naval vessel with specialized security equipment appropriate for high-profile operational inspection and not for the President’s use,” Onanuga stated.

The presidency has stated that the yacht listed in the Nigerian Navy’s additional budget is not for President Bola Tinubu.

Bayo Onanuga, special adviser to the president on media and strategy, said in a statement on Thursday that the yacht is an “operational naval boat with specialized security gadgets suitable for high-profile operational inspection and not for the use of the president.”

According to Onanuga, the navy ordered the yacht during the previous administration, and President Tinubu inherited the obligation to pay for it. The yacht, he added, is part of the government’s investment in securing the country’s territorial seas and increasing economic output from the oil and gas, marine, and blue economy sectors.

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

Onanuga also said that President Tinubu understands the economic challenges being faced by the masses and that his administration is working 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,” he said