The Bola Tinubu-led administration has proposed allocation of funds in the 2023 supplementary budget, including ₦5.095 billion for the purchase of a presidential yacht.
This was made public through the detailed supplementary appropriation documents of Ministries, Departments, and Agencies obtained by Nairametrics.
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In the supplementary budget breakdown, the Nigerian Navy has proposed a capital expenditure of ₦42.3 billion and a recurrent expenditure of ₦20.42 billion, totaling a budget estimate of approximately ₦62.8 billion.
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The proposed budget covers various crucial initiatives, including the acquisition of vehicles, the construction of naval bases in Lekki and Epe, provision of critical equipment, and the purchase of ammunition.
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One of the significant highlights of the proposed budget is the allocation of ₦5.095 billion for the purchase of a presidential yacht.
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