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.
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, totalling a budget estimate of approximately ₦62.8 billion.
The proposed budget covers various crucial initiatives, including the acquisition of vehicles, the construction of naval bases in Lekki and Epe, the provision of critical equipment, and the purchase of ammunition.
One of the significant highlights of the proposed budget is the allocation of ₦5.095 billion for the purchase of a presidential yacht.