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N5 Billion ‘Presidential Yacht’ Not For Tinubu’s Personal Use But For The Navy – Presidency

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N5 Billion ‘Presidential Yacht’ Not For Tinubu’s Personal Use But For The Navy - Presidency - autojosh

N5 billion ‘Presidential Yacht’ not for Tinubu’s personal use but for the Nigerian Navy – Presidency.

Presidency says the operational naval boat bears such classification “because of the high-level security features.”

N5 Billion ‘Presidential Yacht’ Not For Tinubu’s Personal Use But For The Navy - Presidency - autojosh

Photo used for illustration

Earlier this week, Nigerians condemned a part of ₦2.17 trillion Supplementary Budget the President submitted to the National Assembly for approval, including a proposed ₦5 Billion for a Presidential Yacht and a ₦2.9 billion to renew the aging Presidential fleet.

Reacting to the public outcry, the Presidency said the ‘Presidential Yacht’ found in the 2023 Supplementary Budget isn’t for President Bola Tinubu’s personal use but for the Nigerian Navy, adding that the operational naval boat ordered by the immediate past administration bears such classification “because of the high-level security features.”





“What was named as a 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, explained in a statement on Thursday.

Speaking on Arise Television’s Morning show on Friday, the Chief Whip of the Senate, Ali Ndume, further explained that the ‘Presidential Yacht’ had been signed and delivered but not paid for before the public outcry, adding that the Senate has since added the required payment fee to the student loan budget.

Ndume said :

“We queried the amount budgeted for the yacht, but it was signed for a dollar rate, and the new rate isn’t favourable. The budget was predicated for about N435, and now it is over N800.

“The Navy also clarified that it is not a new budget. And even the House of Representatives moved the budget to the Student loan. The deal for the yacht has been agreed, signed, and delivered but not paid for.”





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