FG to spend N28bn on presidential yacht, vehicles, others

FG to spend N28bn on presidential yacht, vehicles, others

A total of N28bn has been proposed for the purchase of a presidential yacht, vehicles among other items for the State House.

It is part of the N2.176tn 2023 supplementary budget for ministries, departments and agencies (MDAs) currently before the National Assembly for approval.

Specifically, N5.095bn is billed to be spent on the acquisition of a presidential yacht and N28bn for other needs in the State House.

The proposed budget allocation for the yacht is captured in the budget for Nigerian Navy.

The Nigerian Navy’s budget proposal encompasses a recurring expenditure of N20.42bn and a capital expenditure of N42.3bn, resulting in a total budget of approximately N62.8bn, as indicated in the document.

Additionally, the Nigerian Navy’s budget plan involves several key components, including the purchase of vehicles, construction of naval bases in Lekki and Epe, procurement of essential equipment and the acquisition of ammunition.

Projects under the N28bn include house renovations and vehicle purchases for the President, Vice President and official vehicles for presidential villa personnel.

For instance, N4bn is earmarked for the renovation of the President’s residential quarters in Abuja, with an additional N4bn allocated for the renovation of Dodan Barracks for the President.