N5.09bn Budget Allocation for Presidential Yacht Stirs Controversy

The N5.09 billion allocation for a presidential yacht in the Federal Government’s N2.1 trillion supplementary budget has sparked controversy.

The yacht is listed under the Nigerian Navy’s proposed capital expenditure of N42.3 billion.

In addition, the government plans to spend N12.5 billion on the Presidential Air Fleet.

You will recall that President Bola Ahmed Tinubu’s administration submitted a N2.1 trillion budget to the National Assembly after the Federal Executive Council’s approval on Monday.

Barely 24 hours later, the budget passed a second reading at the Senate and House of Representatives.

However, details of the budget have continued to stir controversy among Nigerians.

Speaking on this development, Executive Director of the Civil Society Legislative Advocacy Centre, Auwal Musa Rafsanjani said some items of the budget defy logical thinking and are best described as insensitive.

He noted that the move is financial recklessness as Nigerians are suffering, and the Bola Ahmed Tinubu-led administration seems not to be concerned about it.