The Bola Tinubu-led administration has included a provision in the 2023 supplementary budget for the purchase of a presidential yacht, allocating a total of ₦5.095 billion for this purpose.
This information was disclosed through detailed supplementary appropriation documents obtained from Ministries, Departments, and Agencies by Nairametrics.
The Nigerian Navy, in its supplementary budget breakdown, has proposed a capital expenditure of ₦42.3 billion and a recurrent expenditure of ₦20.42 billion, leading to an estimated budget of approximately ₦62.8 billion.
The proposed budget covers a range of critical initiatives, including the acquisition of vehicles, the construction of naval bases in Lekki and Epe, the provision of essential equipment, and the purchase of ammunition.
One notable highlight in this budget is the allocation of ₦5.095 billion designated for the purchase of a presidential yacht.