Nigeria: Supplementary Budget - Govt Earmarks N17.7bn for Presidential Yacht, Air Fleet

2 November 2023
Vanguard (Lagos)

Abuja — President Bola Tinubu has presented a N2.176 trillion 2023 supplementary budget proposal to the House of Representatives on Tuesday.

In the breakdown of the budget, the Ministry of Defence received the highest allocation of N476.543 billion, Works was allocated N300 billion, and the Ministry of Agriculture and Food Security got N200 billion.

Under the State House section of the budget, N2.9 billion was earmarked for purchase of SUV vehicles; the purchase of official vehicles for the office of the First Lady (N1.5 billion); renovation of the residential quarters of Mr. President (N4 billion); renovation of Dodan Barracks--the official residence of Mr. President (N4 billion); renovation of the official quarters of the Vice President in Lagos (N3 billion); construction of an office complex in Aso Rock (N4 billion). In the Office of the National Security Adviser section, the Presidential Air Fleet will receive a budget allocation of N12.7billion. In the Nigeria Navy section, N5 billion was earmarked for a Presidential Yacht.

N5 billion was allocated for the renovation of 100 schools; another N5.5 billion was for Education Loan Fund (funding for Student Loans); Housing got N100 billion; the Federal Capital Territory Administration got N100 billion; the Department of State Services (DSS) got N49bn; and Police Formations and Command got N50 billion.

In the supplementary appropriation bill, Service Wide Votes was allocated N615 billion.

Other allocations include the Department of State Services (N49 billion), the Office of the National Security Adviser (N29.7 billion), and the Independent National Electoral Commission (N18 billion) for the conduct of the forthcoming off-cycle governorship election in Bayelsa, Kogi, and Imo States on November 11.

The proposal is, however, subject to the approval of the National Assembly.

Read the original article on Vanguard.

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