President Tinubu approves an additional N2.18 trillion budget

The National Assembly passed the N2.18 trillion 2023 Supplementary Appropriations Bill last week, and President Bola Tinubu has signed it.

The goal of the law is to give the government more money so that it can fulfil its duties and take care of essential infrastructure needs.

Recall that there was much debate surrounding the bill’s passing, especially regarding the funding of certain opulent items like a N5 billion down payment for a presidential boat.

Read Also: Senate to look into the purchase of Presidential Yacht worth N5bn

The amounts allotted are as follows: N2.5 billion will be used to renovate the Vice President’s residential quarters in Abuja; N4 billion will be used to renovate the President’s official residence in Dodan Barracks, Lagos; N3 billion will be used to renovate the Vice President’s official quarters in Lagos; N4 billion will be used to construct an office complex within the Presidential Villa; N5 billion will be used to buy a presidential yacht; N1.5 billion will be used to buy vehicles for the Office of First Lady; N2.9 billion will be spent on SUVs for the Presidential Villa; and N2.9 billion will be used to replace the President’s operational vehicles.

The government, however, defended the spending, claiming that it was essential to the president’s smooth operation.

Concerns regarding the N5 billion budgeted for the acquisition of a presidential yacht were specifically addressed by Bayo Onanuga, the Special Advisor to the President on Information and Strategy, in a statement.

“We consider it very imperative to clear up any misconception and misunderstanding of the issues following public reactions over the provision for what is termed the presidential yacht and other line items in the 2023 Supplementary Appropriation presented to the National Assembly.”

“What the budget referred to as the Presidential Yacht is actually an Operational Naval vessel equipped with sophisticated security devices meant for high-profile operational inspections, not for the President’s personal usage.

According to terminology, “because of the high-level security features, it is called a presidential yacht.”

The presidential adviser clarified that the navy had issued the order for the naval boat during the previous administration of Muhammadu Buhari.

Onanuga continued, “His administration is working very hard to confront and surmount those challenges,” stating that Tinubu is a leader who knows the economic difficulties that the majority of people experience.