The Chief Whip of the Senate, Senator Ali Ndume, has addressed the contentious issue surrounding the Presidential yacht, valued at approximately N5 billion, during an appearance on Arise Television’s Morning show.
He clarified that the yacht had been procured and delivered before the public outcry, although payment had not been made.
Recall that MUK TV reported on Thursday that the House of Representative scrapped the budget for the luxurious yacht and added it to the student loan budget, a development Ndume confirmed, noting that the Senate toed the same path.
According to the former Senate Leader, the budget was originally based on a dollar rate of around N435, but with the currency’s fluctuation, it had risen to over N800.
The Navy also emphasized that it was not a new budget item, and the House of Representatives had already relocated the budget allocation to the student loan fund.
“The deal for the yacht has been agreed, signed, and delivered but not paid for,” Senator Ndume disclosed.
It’s worth recalling that the proposed expenditures in the 2023 supplementary budget, including the N5.095 billion allocation for a presidential yacht, drew criticism from the Nigerian public.
In response, the Presidency clarified that the “Presidential Yacht” listed in the budget was not intended for President Bola Tinubu’s personal use.
According to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the naval boat’s classification as a “presidential yacht” was due to its advanced security features and its suitability for high-profile operational inspections.
