The Nigerian federal government has put forth a proposal to allocate N5.095 billion towards the procurement of a Presidential yacht under the capital expenditure of the Nigerian Navy. Additionally, N5.5 billion has been earmarked for the education loan fund in the 2023 supplementary budget.
The information is included in the 2023 supplementary appropriation details related to MDA spending. According to the document, the Nigerian Navy has proposed a capital expenditure of 42.3 billion and a recurrent expenditure of N20.42 billion, resulting in a total budget of approximately N62.8 billion.
Other items in the budget proposal from the Nigerian Navy include; the purchase of vehicles, construction of the naval base in Lekki and Epe, provision of critical equipment, and purchase of ammunition.
Then according to PeoplesGazette, The Federal Government is planning to spend about N13.5 billion for the renovation of the official quarters of President Bola Tinubu and his deputy, Kashim Shettima in Abuja and Lagos.
The amount is contained in the supplementary budget President Bola Tinubu sent to the National Assembly for approval on Tuesday.
On Monday, the Minister of Budget and National Planning, Atiku Bagudu, declared that the Federal Government would request permission to appropriate more than N2 trillion for the 2023 supplemental budget.
