‘President Is Enjoying, People Are Enduring’, Uproar As FG Budgets N5.5bn For Presidential Yacht, Billions On Other Luxuries

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Outrage and disbelief are sweeping across Nigeria as the Federal Government unveiled a budget that includes a whopping N5.5 billion allocation for the acquisition of a presidential yacht.

This budget, part of a larger N2.17tn supplementary bill presented during Monday’s Federal Executive Council (FEC) meeting is introduced at a time when financial support is requested for various critical areas.

The budget covers issues like wage awards for civil servants due to fuel subsidy removal, national security, and defense, bridge maintenance, cash transfers to vulnerable households, agricultural inputs, and funding for off-season elections.


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However, the allocation of such a significant sum for a presidential yacht, alongside several other controversial expenditures, has drawn intense scrutiny and raised serious questions. In a period marked by economic challenges and calls for austerity, many Nigerians are expressing their displeasure and frustration.


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They question the government’s priorities, as they find it ‘insulting’ that substantial funds are designated for what appears to be luxury items, such as N1.5 billion on vehicles for the First Lady’s office, N2.9 billion on SUVs for the presidential villa, N2.9 billion to replace operational vehicles for the presidency, N4 billion to renovate the President’s Residence in Lagos, and N12 billion to maintain the presidential air fleet.

Additionally, N2.5 billion is allocated to renovate Aguda House, the official residence of the Vice President.

This allocation of N5 billion for a presidential yacht, alongside these other budget items, has triggered a nationwide outcry and calls for a reevaluation of the government’s spending priorities, especially as essential concerns like student loans, seen as more vital to the populace, receive less financial attention.


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