Presidency Clarifies: N5 Billion Yacht in Supplementary Budget Is Not Intended for Tinubu

On Thursday, the Presidency provided a rationale for the inclusion of a yacht in the Supplementary Budget. The Presidency clarified that the yacht is designated for the Nigerian Navy and not intended for President Bola Tinubu, as was widely assumed. This explanation was conveyed through an official statement signed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.

The statement elaborated that the item referred to as the “Presidential Yacht” in the budget is, in reality, an operational naval vessel equipped with specialized security equipment tailored for high-profile operational inspections, and it is not meant for the President’s personal use.

Nonetheless, DAILY POST reported that the House of Representatives removed the N5 billion allocation for the presidential yacht from the 2023 Supplementary Budget. The budget was approved by the House on Tuesday following the adoption of the report presented by Abubakar Bichi, the Chairman of the Appropriations Committee from Kano State.