Bola Tinubu’s APC govt wants to buy Presidential Yacht for N5B

Information reaching Kossyderrickent has it that Bola Tinubu’s APC govt has budgeted to o buy Presidential Yacht of N5 billion.

According to the document, the Nigerian Navy proposed a capital expenditure of 42.3 billion and a recurrent expenditure of N20.42 billion making a budget of around 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.

A report that Bola Tinubu-led administration has proposed to appropriate N5.095 billion for purchasing a presidential yacht under the capital expenditure Nigeria Navy and N5.5 billion for education loan fund in the 2023 supplementary budget.

These allocations have triggered widespread discussions about the allocation of resources and priorities amid economic challenges and educational needs.

This is contained in the 2023 supplementary appropriation details of Ministries, Departments and Agencies spending.

According to the document, the Nigerian Navy proposed a capital expenditure of 42.3 billion and a recurrent expenditure of N20.42 billion, making a budget of around N62.8 billion.

Nigerian higher institutions have been plagued by recurring industrial actions from staff unions, ASUU, ASUP, etc. Major reasons for the actions range from lack of funding and autonomy of tertiary institutions.

In 2022, around 8months of learning in Nigerian Universities was lost due to industrial action from the Academic Staff Union of Universities.

In 2020, the University staff union also embarked on a 9-month strike to press home their demands from the government.