The administration of President Bola Tinubu has hinted on spending N5.095 billion on a presidential yacht.
This is among the expenses included in the 2023 supplemental budget that the President filed for approval to the National Assembly.
The House of Representatives’ second reading of the budget was reduced back.
The Nigerian Navy has suggested spending ₦42.3 billion on capital projects and ₦20.42 billion on ongoing expenses, of which N5.095 billion would go toward purchasing a presidential yacht.
The administration has set aside N19.3 billion in its budget to upgrade the President’s and Vice President’s lodges in Abuja and Lagos, as well as purchase cars for the president and vice president, despite the nation’s previously unheard-of levels of poverty and hardship.
The “acquisition, renovation and rehabilitation of two Economic and Financial Crimes Commission (EFCC) fortified quarters as State House Complex” at Guzape and Mabushi, respectively, will also cost N3 billion.
The breakdown is as follows: “buying SUVs will cost N2.9 billion.
Replacing operational pool vehicles will cost N2.9 billion.
Renovating Mr. President’s residential quarters will cost N4 billion.
Renovating Vice President Aguda House’s residence will cost N2.5 billion.
Computerizing and digitizing the State House will cost N200 million.
Building an office complex within the State House will cost N4 billion.
Renovating Dodan Barracks, Mr. President’s official residence, will cost N4 billion.
Renovating the Vice President’s official quarters in Lagos will cost N3 billion.