Senator Ali Ndume, the Chief Whip of the Senate, has disclosed that the deal for the presidential yacht included in the supplementary budget has been signed and delivered, although payment has not been made yet.
He said, “The deal has been signed and delivered, but not paid, and that’s what brought the inclusion of the amount (N5 billion) in the supplementary budget.”
The House of Representatives rejected the federal government’s proposal to acquire a presidential yacht, which carries an estimated cost of N5 billion within the supplementary budget.
This decision faced strong public criticism due to the economic circumstances in the country, with many Nigerians considering it an extravagant expenditure.
President Tinubu submitted a supplementary budget for approval in the National Assembly, where the purchase of the yacht was included under the Nigerian Navy’s proposed capital expenditure of $53 million.
The presidency clarified that the the item labeled ‘Presidential Yacht’ in the 2023 Supplementary Appropriation Bill is not intended for President Tinubu’s personal use.
The presidency said the naval boat bears such a classification “because of the high-level security features.”
“What was named as presidential yacht in the budget is an operational Naval boat with specialised security gadgets suitable for high-profile operational inspection and not for the use of the President.”
Special Adviser to the President on Information and Strategy, Bayo Onanuga, said in a statement on Thursday.
The Presidency’s statement, titled “The facts on the Naval boat in the 2023 supplementary budget,” reads, “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 the 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 Defense, the Presidency noted, adding that “the total of the submitted requests was in excess of N200 billion, out of which N62 billion was approved by the President.”
