Nigeria's 2023 Budget: A Presidential Yacht?

Nigeria's 2023 Budget: A Presidential Yacht?

source

“What was named as presidential yacht in the budget is an operational Naval boat with specialised security gadgets suitable for high profile operational inspection and not for the use of the President.” 

These were the words of the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in response to the controversy generated by the proposal of the Nigerian presidency to acquire a ‘presidential yacht’ that costs approximately 5 billion naira. 

The ‘presidential yacht’ found in the 2023 Supplementary Appropriation Bill presented to the National Assembly incited an outrage amongst Nigerians and invited criticisms for the primary reason that the plan to acquire said yacht is coming at a time of great and unbearable economic distress for many Nigerians as the cost of living has skyrocketed and the naira continues to depreciate sharply.

In response to the outrage, the House of Representatives, Nigeria’s lower chamber of Parliament, redirected the 5 billion naira allocation to boost the student loan budget, increasing its funding. Commendably, this decision mirrors a concern to address pressing economic and social concerns.

However, the quoted statement put in the first paragraph of this article was put out to defend the allocation of 5 billion naira for the proposed presidential yacht. It was denied that the yacht would be for personal uses, but rather for Naval operations and was only named as a presidential yacht because of the high security gadgets the yacht would be furnished with.

The presidency further defended that the purchase of the 5 billion naira yacht was ordered by the Navy under the previous administration and that the current president, Bola Ahmed Tinubu, only requested for the yacht because the current administration inherited the assets and liabilities of the former administration. 

While statements have been put forward to clarify and defend the acquisition and use of an incredibly expensive ‘presidential yacht’, one cannot help but be baffled and wonder whether the priorities of the government are in the right order because the hefty amount allocated for the ‘presidential yacht’ can be channelled into other sectors of the country that need to be desperately boosted in order to increase the quality of living of so many Nigerians who suffer daily as a result of the breakdown of many vital sectors of the economy and society as a whole.

Perhaps you may not share this view. If you do not, do let us know what your thoughts are. We would love to hear from you.