Nigerian lawmakers throw out N5 billion presidential yacht from supplementary budget

The members of the House of Representatives have dropped the N5 billion presidential yacht from the 2023 supplementary budget, and subsequently earmarked it for student loan in the supplementary budget.

Penpushing reports the Chairperson of the House Committee on Appropriation, Hon Abubakar Bichi of the All-Progressives Congress (APC), Kano State made this development known on Thursday after the passage of the N2.17 trillion supplementary budget by the House.

The federal lawmaker while addressing journalists, explained that the committee removed the item and moved the money to the student loan section to make it N10 billion, stressing that the presidential yacht was a forgone issue

‘As far as we are concerned, we don’t have that presidential yacht anymore. We have increased the student loan. If you recall, the student loan was N5 billion in the budget but we have increased it to N10 billion’ he declared.

Penpushing further reports that it is recalled that the N5 billion for the presidential yacht was listed under the budget of the Nigerian Navy but was moved to the student loan section by the House apparently after the public outrage that trailed the allocation

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