Presidential Yacht: Presidency Clear Explanation of the Naval Boat in the 2023 Supplementary Budget

The recent public outcry over the inclusion of a line item in the 2023 Supplementary Appropriation labeled as the “Presidential Yacht” has prompted the Federal Government of Nigeria to provide much-needed clarifications.

Presidential Yacht Explained

In a press release by Bayo Onanuga, Special Adviser to the President of Nigeria on Information & Strategy, several key points were addressed to rectify the misunderstandings surrounding this budget provision.

First and foremost, it was clarified that the term “Presidential Yacht” in the budget is a misnomer. Contrary to public perception, the allocation is not meant for a luxurious presidential vessel but for an Operational Naval boat equipped with specialized security gadgets tailored for high-profile operational inspections.

Continuity in Governance: Inherited Assets and Liabilities

It is important to note that this Naval boat was ordered by the Nigerian Navy during the previous administration. President Bola Tinubu‘s administration emphasizes the principle that government is a continuum. In this spirit, the current administration has inherited both assets and liabilities from past governments, including procurement commitments such as the Naval boat.

Payment Request and Presidential Approval

The payment request for the said Naval boat was part of the committed obligations submitted by the office of the Chief of Naval Staff to the Ministry of Defence. It should be understood that the total sum of these submitted requests exceeded N200 billion, out of which President Tinubu approved N62 billion.

A Focus on National Security and Economic Growth

President Bola Tinubu‘s administration places paramount importance on securing the nation’s territorial waters. The government’s investment in this operational Naval boat with advanced security features aligns with the broader goal of ensuring the safety of the maritime domain and its economic activities. This investment is part of a broader strategy to enhance economic output from various sectors, including oil and gas, marine, and the blue economy.

Addressing Economic Challenges and Promoting Reforms

In these challenging economic times, President Tinubu‘s administration remains committed to improving the lives of all Nigerians. The government is actively addressing economic challenges faced by the masses and implementing necessary reforms to overcome these obstacles. The President’s vision and leadership aim to lead Nigeria toward a more prosperous and buoyant future, which will ultimately result in an improved quality of life for all citizens.

In conclusion, the clarifications provided by the Federal Government serve to shed light on the seemingly contentious issue of the “Presidential Yacht” in the 2023 Supplementary Appropriation. With an understanding of the true nature and purpose of this budget allocation, Nigerians can now appreciate the government’s commitment to national security and economic growth under the leadership of President Bola Tinubu.