Presidency: N5.09bn yacht is for Navy, not Tinubu

President Bola Tinubu

The Presidency says the N5.09 billion allocated for presidential yacht in the N2.1 trillion supplementary budget is for the Nigerian Navy and not for President Bola Tinubu.

There have been reactions from Nigerians over the plans to buy the yacht from the N2.1 trillion supplementary budget Tinubu recently submitted to the National Assembly.

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

According to the budget, N5.09 billion was allocated for the yacht, while N2.9 billion was earmarked for Sport Utility Vehicles (SUVs) for the Presidential Villa.

Reacting to the criticism that trailed the intended purchase, the Presidency, in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on November 2, 2023, said presidential Yacht in the budget is an operational naval boat with specialised security gadgets and not for the use of President Tinubu.

Onanuga added that the naval boat was ordered by the Nigerian Navy under the administration of former President Muhammadu Buhari.

He stated: “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.”

The Star