The Presidency has provided a background to the provision for a “presidential yacht” in the 2023 Supplementary Appropriation Bill passed by the National Assembly.
The Supplementary Budget provision has raised considerable dust in the public as many queried the need for such a provision and the House of Representatives struck it out of the budget.
However, explaining the provision in a statement by Special Adviser to the President of Information and Strategy, Bayo Onanuga, the Presidency said it was indeed a budgetary request of the Navy through the Ministry of Defense and was only tagged presidential because of the special security fittings on it.
It further explained that the yacht is an operational naval boat, with specialised security gadgets and requested in a budget submitted under past administration, adding since government is a continuum, all assets and liabilities of past administrations now belong to President Bola Tinubu’s administration.
“Following public reactions over the provision for what is termed presidential yacht and other line items in the 2023 Supplementary Appropriation presented to the National Assembly, it is important to provide some clarifications.
“First, we need to make clear that President Bola Tinubu’s administration respects the views of Nigerians on all matters of public concern. We thus consider it very imperative to clear any misconception and misunderstanding of the issues.
“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 presidential yacht by way of nomenclature because of the high level security features.
“The Naval boat was ordered by the navy under the previous administration. President Tinubu has consistently said that government is a continuum as he inherited both assets and liabilities of past administrations.
“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 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,” the statement said.
It further assured Nigerians that President Tinubu understands the economic strain facing Nigeria and is determined to change the circumstances and further assured that the fruits of the current harsh seasons will soon manifest in quality and improved life for all citizens.
“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,” it assured.