Outrage and disbelief are sweeping across Nigeria as the Federal Government unveiled a budget that includes a whopping N5.5 billion allocation for the acquisition of a presidential yacht.
This budget, part of a larger N2.17tn supplementary bill presented during Monday’s Federal Executive Council (FEC) meeting is introduced at a time when financial support is requested for various critical areas.
The budget covers issues like wage awards for civil servants due to fuel subsidy removal, national security, and defense, bridge maintenance, cash transfers to vulnerable households, agricultural inputs, and funding for off-season elections.
However, the allocation of such a significant sum for a presidential yacht, alongside several other controversial expenditures, has drawn intense scrutiny and raised serious questions. In a period marked by economic challenges and calls for austerity, many Nigerians are expressing their displeasure and frustration.
They question the government’s priorities, as they find it ‘insulting’ that substantial funds are designated for what appears to be luxury items, such as N1.5 billion on vehicles for the First Lady’s office, N2.9 billion on SUVs for the presidential villa, N2.9 billion to replace operational vehicles for the presidency, N4 billion to renovate the President’s Residence in Lagos, and N12 billion to maintain the presidential air fleet. Additionally, N2.5 billion is allocated to renovate Aguda House, the official residence of the Vice President.
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This allocation of N5 billion for a presidential yacht, alongside these other budget items, has triggered a nationwide outcry and calls for a reevaluation of the government’s spending priorities, especially as essential concerns like student loans, seen as more vital to the populace, receive less financial attention.
Here are some reactions gathered by The Quest Times
@Damocleansword Elizabeth II was compelled to give up the royal yacht Britannia due to economic reasons. For the same reasons, Jimmy Carter sold off the US Presidential yacht in the 70s. Look at these clowns.
@Uncle_Onos What is the President doing with a “Presidential Yacht”? At a time we are running on a deficit budget, we shouldn’t be spending this blindly. How is it even right to see the poor “sacrifice” with pains for terrible govt policies that have brought hardship but the Political elites continue to live in affluence?
@FinPlanKaluAja1 Nigeria has a spending problem, not a revenue problem 2023, Supplementary Budget. Student Loan N5b, Presidential Yacht N5b. I am so done…..We have jokers running the nation. Absolute jokers. The worst part? Nigeria will borrow the N5b to buy that Presidential yacht Instead of doing line-by-line due diligence on the 2023 appropriation budget, you were singing in FEC meetings like children Jokers
The @officialABAT dynasty of thieves! They want to buy a “Presidential Yacht” for N5billion for a man who’s never been to a stream before, they want to renovate a Presidential Lodge in Lagos for N4b for a man who just built a mansion in Lagos that stretches from Bourdillon to… pic.twitter.com/W1UtLUM10r
— Omoyele Sowore (@YeleSowore) November 1, 2023
@Morris_Monye N5billion Presidential Yacht Omo Tinubu come soft pass. And Nigerians are sacrificing and carrying the brunt of it all. Animal farm. 4 legs are better than 2 legs.
@duso4me Presidential Yacht to get N5 billion while a few poor Nigerians get N25k. Yacht is more important than Nigerians. Show me the leadership in this kind of decision.
@imohumoren One of the poorest countries in the world (currently) having a budget for Presidential Yacht? The clouds you see over Nigeria are made from cocaine dust.
FG budgets N5 billion for Presidential yacht, N5.5 billion for student loan.
Omo lifestyle influencer don enter Aso Rock. 😁
— Bigwig Austin (@aai_austin) November 1, 2023
@basilokpara Imagine bringing a proposal to spend billions on the office of First Lady and Presidential Yacht to HE Peter Obi. You will lose your job immediately.
@clarita_ogar Spending N5bn on a presidential yacht, while most Nigerians live in multidimensional poverty, is a giant slap in the face of the masses.
Ha! Baba want to dey cruise Lagos lagoon as per aromi sa lẹgbẹ lẹgbẹ! https://t.co/CcDOM7oIw3
— Nicholas 'The Brave' Ibekwe (@nicholasibekwe) November 1, 2023
@fisayosoyombo The next plans of the Tinubu govt: N1.5bn on vehicles for the first lady, N2.9bn on SUVs for the presidential villa, another N2.9bn to replace operational vehicles for the presidency. All this from a president who, in his Independence Day speech just four weeks ago, urged Nigerians to “endure this trying moment”. The president is enjoying; the people are enduring…
@YusufTahirAdamu He wants you to be “more patient” whilst his unelected wife spends 1.5billion on Cars. Whilst he spends N4 billion on a Lagos residence that he won’t use more than 5 times a year. This is insulting, insensitive, and indefensible.