EXP0SED: Reps Claimed Presidential Yacht Funds Were Reallocated to Student Loans-But the Money Remains in the Budget Under a New Name [ SEE EVIDENCE]

The proposed supplementary budget with 'Presidential Yacht' allocation

The approved supplementary budget with the yacht rebranded as "Self Propelled BargeÔÇØ

In the initial budget proposal, N5.09 billion was allocated to a line item labelled "Presidential YachtÔÇØ. While this label no longer appears in the approved budget, the same amount is now assigned to a new line item - "Self-Propelled BargeÔÇØ - under the same agency.

A self-propelled barge is, essentially, a yacht with its own propulsion system, designed to transport cargo, equipment or personnel.

President Bola Tinubu presented a N2.1 trillion supplementary budget in October, a few months after assuming office.

The proposed N5.09 billion allocation for a presidential yacht quickly stirred public anger. Pressure groups, Nigerians and politicians called the line item out as an unnecessary luxury in a time of rampant inflation, deepening poverty and chronic funding shortages.

Shehu Sani, a former senator, was one of those who notably condemned the allocation. Sani argued that Nigerian troops on the frontlines often lacked basic supplies and weapons. He questioned how such an extravagant purchase could be justified while the military struggled with dire resource shortages.

LAWMAKERS HAD CONTROVERSIAL POSITIONS ON THE YACHT
As public backlash mounted, lawmakers responded. The House of Representatives declared it had removed the yacht from the budget and reallocated the funds to the student loan scheme.

Abubakar Bichi, Chairman of the House Appropriations Committee, addressed journalists in November, saying:

"As far as we are concerned, there is no presidential yacht anymore. We have increased the student loan budget from N5 billion to N10 billion, ensuring that our students can access the resources they need to continue their education.ÔÇØ

On the same day, the presidency attempted to salvage the situation. The State House insisted that the yacht was merely a mislabelled naval vessel.

Bayo Onanuga, a presidential spokesperson, claimed that the yacht was, in fact, a naval boat intended for security operations and high-profile inspections, rather than personal pleasure. He added that the presidency had inherited the bill for this vessel from the previous administration.

According to Onanuga, the payment request for the boat came from the Office of the Chief of Naval Staff which had submitted obligations totalling over N200 billion to the Ministry of Defence. Of this amount, N62 billion had been approved by the President.

In the same month, Ali Ndume, the senate majority whip, reiterated the FG's position during an interview with Arise Television. He explained that the yacht had already been delivered to the Nigerian Navy in June 2023 under the previous administration, but payment had yet to be made. He insisted that it was not a new procurement.

NAVAL SHIPS HAVE BEEN CLEARLY LABELLED IN THE PAST
FIJ examined past budgetary allocations to the Nigerian Navy and found numerous instances where funds had been allocated for boats, ships and other maritime vessels. Unlike the budget line in contention, the language in these other instances was clear.

For example, in 2015, N8.07 billion was allocated to acquire two offshore patrol vessels as part of the navy's capital expenditures. The 2015 budget performance report confirmed that the funds were released and the vessels were purchased.

In 2016, N1.7 billion was allocated for hydrographic survey boats, and another N1.39 billion for sea boats. However, it remains unclear if these funds were released; the budget implementation report did not specify the status of these projects.

The following year, N1.2 billion was allocated for houseboats. Like in the previous year, however, it is uncertain if the funds were disbursed. Similarly, in 2018, N7 billion was allocated for various naval vessels, including ocean boats and reinforced hull inflatable boats, but the budget implementation report does not clarify which specific boats were procured.

In subsequent years, funds continued to be allocated for naval vessels. In 2021, N3.7 billion was designated for a hydro survey ship and sea boats, and the Ministry of Defence achieved near-total budget implementation.

In 2022, the ministry exceeded its budget allocation, indicating that the over N7.5 billion allocated for patrol boats and special forces vessels was likely disbursed.

In the 2023 original budget, N21.6 billion was allocated for fast patrol and special forces boats, but with a budget performance of 63%, it remains unclear whether these funds were released.

A PRESIDENT ONCE REJECTED A 'PRESIDENTIAL YACHT'
Tinubu's is not the first case of a controversial presidential yacht allocation. In 2010, there were reports that the Nigerian Navy had made similar requests to Goodluck Jonathan, Nigeria's president at the time.

Ahead of the 50th anniversary of Nigeria as an independent nation, the navy had proposed N3.3 billion for the procurement of a 'Presidential Yacht'. But the president hastily turned it down, according to a report by the Cable.

According to a report by the Daily Trust, Jonathan had directed the navy to liaise with the National Assembly to seek funds for the repair of existing naval warships.