President Bola Tinubu-led administration, has proposed to spend the staggering sum of N5.095 billion for the purchase of a Presidential yacht under the capital expenditure.
This is contained in the 2023 supplementary appropriation.
According to the details of the appropriation, the Nigerian Navy is set to receive a capital expenditure of N42.3 billion and a recurrent expenditure of N20.42 billion, totaling N62.8 billion.
This budget includes funding for various purposes, such as the purchase of vehicles, the construction of naval bases in Lekki and Epe, and the procurement of critical equipment and ammunition.
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.
Meanwhile, this lavish proposal is coming when millions of families in Nigeria are going hungry.
