Provisions for presidential yacht in 2023 supplementary budget is for Navy – Presidency

Special Adviser to the President on Information and Strategy, Bayo Onanuga, has explained the details for including the presidential yacht in the 2023 supplementary budget.

In a press statement on Thursday, Onanuga stated that what was called the Presidential Yacht is an Operational Naval boat due to the high level security characteristics.

According to him the term was used as a presidential yacht by way of nomenclature because of the high level security features.

In the 2023 supplementary budget, the Federal Government projected to spend more than N2 trillion.

A review of the budget found that N5 billion was recommended in the
supplementary budget for the
acquisition of a presidential yacht.

Many Nigerians were dissatisfied with the presidential yacht’s budgetary allocation, citing rising maintenance costs as a result of the elimination of fuel subsidies.

“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 (a) presidential yacht by way of nomenclature because of the high level security features,” Onanuga said.

Onanuga further disclosed that the Navy had ordered the boat during the previous administration. Citing President Tinubu’s unwavering belief that his government would be a continuum of the achievement of his pressedesor.

He assured that President Tinubu is committed on securing our country and territorial waters.

“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 of 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.”