Nigeria had made headlines after it emerged that the country was planning to acquire a presidential yacht for $6m (£5m).
The plan had caused uproar amongst Nigerians and even made news in several other parts of the world days after the newly elected President Bola Tinubu announced austerity measures.
However according to Special Adviser to the President on Information and Strategy, Bayo Onanuga, the item named ‘Presidential Yacht’ as found in the 2023 Supplementary Appropriation Bill is not for President Bola Tinubu’s personal use.
This was as it said the naval boat bears such classification “because of the high-level security features.”
“What was named as a 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,” Bayo stated.
“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 Presidency noted, adding that “the total of the submitted requests was in excess of N200 billion out which N62 billion was approved by the President,” the statement clarified.
However, the lower chamber of parliament had already rejected the plan and directed the funds to facilitate student loans.
At the moment, Nigeria is battling with a high cost of living and inflation pressure. Nigeria’s annual inflation rose to 26.7 per cent in September, according to official statistics.
Several human rights groups have called on Tinubu’s administration to address the high cost of living and address high poverty ratio in the West African country.
Nigeria like Kenya, scrapped the fuel subsidy program causing the price of the commodity to shoot and thus affecting other basic commodities.
