The N5 Billion Presidential Yacht Deal Already Signed & Delivered – Ndume

Senator Ali Ndume, Senate Chief Whip, confirmed to Arise Television that the contentious contract concerning the presidential boat, which was included in the supplementary budget, has already been signed and delivered.

He clarified that, while the agreement has been confirmed, it has not to be paid for, resulting in the N5 billion figure being included in the extra budget.

This news comes after the House of Representatives rejected the federal government’s plan to buy a presidential yacht for N5 billion. The projected purchase has sparked widespread outcry, with many Nigerians seeing it as an unwarranted indulgence in light of the country’s economic difficulties.

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The presidential yacht was included in the Nigerian Navy’s proposed capital expenditure of $53 million in President Tinubu’s supplementary budget. The president has stressed, however, that the “Presidential Yacht” is not for President Tinubu’s personal use, but rather an operational naval boat outfitted with specialist security elements for high-profile operational inspections.

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The presidency stressed that the naval boat was ordered by the Navy under a previous administration and that the government operates on a continuum, inheriting both assets and liabilities from prior administrations. The payment request for the boat was included in the commitments made by the Chief of Naval Staff’s office to the Ministry of Defense. President Tinubu granted N62 billion of the total demands, although the total amount requested topped N200 billion.

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