Supplementary budget: Presidential yacht just nomenclature — Presidency

The Presidency on Thursday deflected criticism on the provision of N5 billion for the purchase of a presidential yacht in the 2023 Supplementary Appropriation presented to the National Assembly, explaining that the item has been mischaracterized.

A statement issued by Bayo Onanuga, Special Adviser to the President on Information & Strategy, noted that following public reactions over the provision, the presidency had to provide some clarifications.

It posited that while the President Bola Tinubu respects the views of Nigerians, it is important to stress that what is classified as a yacht in the budget line item is actually an Operational Naval boat suitable for high profile operational inspection.

The statement noted: “First, we need to make clear that President Bola Tinubu’s administration respects the views of Nigerians on all matters of public concern. We thus consider it very imperative to clear any misconception and misunderstanding of the issues.

“What was named as Presidential Yacht in the budget is an Operational Naval boat with specialized security gadgets suitable for high profile operational inspection and not for the use of the President. It is called presidential yacht by way of nomenclature because of the high level security features.

“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 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 Defence. The total of the submitted requests was in excess of N200 billion out which N62 billion was approved by the President.

“President Tinubu is focused on securing our country and territorial waters. The Federal Government under his leadership is investing more resources to enhance greater economic output from our oil and gas, marine and blue economy. In President Tinubu, we have a leader who understands the economic challenges being faced by the masses.

“His administration is working very hard to confront and surmount those challenges. Nigerians will soon get the benefits of the ongoing reforms that will certainly lead to a buoyant and improved quality of life for all citizens.”

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