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Tinubu Speaks On Request For Presidential Yacht Worth N5 BillionPublished on 2 November 2023 at 11:25 AMBy Rachel Okporu Fadoju
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President Tinubu seeks Senate approval for an additional $7.8 billion and €100 million in his 2022-2024 borrowing plan
The administration of President Bola Ahmed Tinubu, has debunked reports making the rounds online over plans to purchase a presidential yacht worth N5 billion.
Naija News earlier reported that the federal government is planning to spend N5 billion to purchase a presidential yacht in the 2023 Supplementary Budget.

It was learned that the proposed sum is under the capital expenditure of the Nigerian Navy’s budget.

According to the breakdown, the Navy will require N62.8 billion for its operations, with recurrent expenditure and capital expenditure gulping N20.4 billion and N42.3 billion, respectively.

However, in a statement on Thursday, the Senior Special Assistant to the President on Media and Publicity, Temiope Ajayi, clarified that Tinubu didn’t request any yacht and did not need one to perform his function considering the current state of the economy.

According to him, the request for a yacht was framed in the Navy’s budget, and it is assumed that they have an operational reason for it.

The statement reads, “It has become a pattern for some individuals, CSOs and a section of the media to pick one or two line items every budget cycle for sensational headlines, deliberately ignoring context in their reporting.

“The public that should benefit from good journalism, which should primarily educate and adequately inform, is left confused and miseducated due to the mischaracterisation of issues and misrepresentation of facts.

“The trending issues on social media since yesterday are two items in the 2023 supplementary budget. One is the provision for a presidential yacht in the supplementary budget by the Navy and the other is over N6 billion for vehicles to the State House.

“It is important to state clearly that President Bola Tinubu didn’t ask for a presidential yatch and I doubt he needs one to perform the functions of his office. From what I know, the request for a yacht, however it is named or couched in the budget is from the Navy and they must have operational reasons for why it is required.

“The budget office should be in a position to also explain to the public why such expenditure should be accommodated now, considering the economic situation of the country. I must readily admit that the one reason our budgeting system has been a subject of public attack is the very simplistic way some of the line items are described by civil servants, who prepare the budget. Examples abound. Sometimes in 2016, an Enterprise Resource Planning ( ERP) project of the Ministry of Solid Minerals worth over N300m then was captured in that year’s budget as “website”. Naturally, it generated a massive controversy as people, rightly, asked to know the type of website that will be built with N300million.

“It is important to say that journalism should enrich public enlightenment and not create an atmosphere of siege. It is poor reporting to always reduce State House budgetary provisions to the President and Vice President. When the State House makes provision for vehicles, it is reported as if it is the President that will use all the vehicles or eat all the food when a provision is made for food and catering services. We have had such inaccurate reporting in the past.”

Ebubu:
https://x.com/hillsmezie/status/1719768029431496766?s=46&t=ys-cZV4zkR89r8VbDR8jeg[/quote]The news is indeed worrisome, but your post is pure rubbish!

sarkinbauchi:
A Presidential yacht refers to a vessel of a country's navy that would be specially used by the country's President. It is common for a vessel to be designated as the presidential yacht during a fleet review.

Some countries (below) have vessels permanently designated as presidential yachts:

List of Countries with Presidential yachts

Egypt
The President of Egypt has the eighth largest yacht, El Mahrousa, as his presidential yacht.

Finland
The President of Finland has a small private yacht, Kultaranta VIII.

India
The INS Sumitra is the presidential yacht of India.

Italy
The Italian ship Argo (MEN209) is the presidential yacht of Italy.

Philippines
Casiana (1936-1941), renamed Banahaw.
Orchid (1946-1948)
Dalisay (1948-1959), renamed Apo, Pagasa, and Santa Maria.
RPS Lapu-Lapu (1959–present), renamed RPS Roxas, RPS The President, RPS Pag-Asa, and BRP Ang Pangulo.

Russia
Russia employed presidential yachts serving the Russian presidents, including:
Olympia (2002–2009), was used by the Russian President Vladimir Putin during his first and second terms.
Sirius (2010–), was firstly used by the Russian President Dmitri Medvedev
Graceful (2018–), the most recent presidential yacht. The Russian government also employing the special vessel named Rossiya which was built during the Soviet Union, and used in the internal waters. In 2003 ship named Burevestnik was commissioned to serve the Russia's leaders.[5]

Turkey
Presidential Yacht Savarona – The current Turkish presidential yacht; prior to 2010 privately leased while her replacement (below) was in development
New presidential yacht – The Turkish Government has currently commissioned a new 50 m yacht for the personal use of the president and visiting heads of state. Details of this new yacht first surfaced in September 2008.[6][citation needed] The yacht is being built at the Istanbul Naval Yard, Pendik, Istanbul and is reported to have a ballistic hull, surface-to-air missiles and high-tech equipment.

United States
In the past, the United States employed presidential yachts serving the American president:

USS Mayflower (1906–1929), was decommissioned as a result of economy measures just prior to the Great Depression.
USS Potomac (1936–1945)
USS Williamsburg (1945–1953)
the most recent presidential yacht was USS Sequoia (1933–77).

Yugoslavia
The most famous is Galeb, the yacht of Marshal Josip Broz Tito.

pocohantas:
Are they all singers?
No doctor amongst them?

Happy married life to him/them.
He is the finest I have seen. Looks calm too. Unlike that one with rhombus head, Seun (not Osewa).

jamesversion:
This girl na 14yrs?

soccerlite:
Dino is not a thief

Obaofaba:
Dino is in trouble like one Agulu fraudster.

Say no to an agbero in government house.

Dino is too tuggish in nature like Wike, we warned them in 2015 and 2019 against supporting Wike but now their eyes are clear and are now playing the victim cards.

We have no choice than to support Wike now to serve as deterrent for the future.

Dino is not just a tug, he's equally a thief with insatiable thirst for luxury cars and houses, nothing good can come out of him.

The money spent on his fleet of cars can bounce back the economy of kogi state from the current state of camatose.

EyeCumInPiss:
Indeed the Christian God is merciful.
Summon her now before Sango to swear that Tinubu has never falsified his records or biodata, and see whether thunder will not immediately strike her left yansh.

Racoon:
https://dailypost.ng/2023/10/31/supreme-courts-judgement-is-the-lords-doing-oluremi-tinubu/

N3TRAL:
A president's wife and child in Nigeria are more powerful than a vice president. Jonathan took orders from Turai during Yaradua's long absence.

A Governor's wife in Nigeria is more powerful than a deputy Governor. Obiano's wife ran Anambra State. Betty is currently running Ondo.

Nobody can stop Seyi from seeing his father. Tinubu just wants to sound like a disciplined father.

Cruise777:






Wike never talk ooo... When Wike speak them go sabi

Na them dey provoke FCT 001

Moral of the story from MohBad to Fabura never help a poor downtrodden Nigerian let them rise to the top by themselves, they don't honor agreement

When he gave you a Job as state Accountant and Comm for Finance, Wike was not God Father

He made you a Governor and he wasn't a Godfather

Now he demanded agreement be met he is suddenly Godfather

Wike hired 200,000, two hundred thousand men and women as special advisers on politics paying them 50,000 a month to get Fabura in Office


Pigs that supported Saraki, Peter Obi , Atiku , Onoghen , Nnamdi Kanu have started with Fabura


.

Uniquewise:
Innocent looking, yet her heart is as black as the night. I doubt she even understand the enormity of her crime.

Maximum age-appropriate punishment is in order, lobatan

vanitybutiwanti:
That's a lot of money. Lagos is in a class of its own, if the state wasn't solvent, the banks wouldn't agree to fund the project, reason I maintained that debt is not bad if its utilised properly.

People that spoke against IGR, can states with low IGR dare to embark on a project of this magnitude? You deliberately turn facts on it's head when reality is not in your favour, jokers!

Fasindo:





Congratulations Akpoti


He has no option.
If Bello has an option he would have made sure that Natasha has no chance and consequently kill her political career, but that Natasha na lioness.

She defeated Bello
She defeated Ohere
She defeated APC
She defeated INEC

That woman is beautiful
She is politically strong
She is smart
She is financially ok
She is learned.
She is the type of lady every niggar should date and marry, not the type that will come on nairaland to insult men and still go offline to beg 100 naira recharge card from same men nor the type that couldn't recite the national anthem on national television.
Should I even talk about the ones that doesn't know the arm of government that makes law, even though they claimed to have studied law


Congrats Natasha once again

iwaeda:
https://www.channelstv.com/2023/10/30/boko-haram-may-wipe-nigeria-off-the-map-zulum-raises-alarm-about-insurgency/

Bosch10:
I like the color of your tears

abc115:
https://twitter.com/StatiSense/status/1719087938653295056

SoNature:
How is this newsworthy?

Appletek:
A model for Dolce and Gabbana no sabi fashion?
You think fashion is by dressing like a vulcaniser?
No dey talk this long kind nonsense for public.

Rahkman:
The most matured artist in the history of Nigeria, him and genevieve nnaji the way they carry themselves should be studied in the university

Okortor:
Francis fought well and I never saw such awesome fight coming. He won my heart already, fight that AJ has been avoiding. Francis was able to clear Fury's doubt!

Francis is my undisputed heavyweight chairman at the moment

OGHENAOGIE:
its not hereditary then just like the emir of Kano seat... But it's still within the large family.. kids from such family are really blessed... They don't struggle with life

kokakola:
May his soul rest in peace.

I hope they do not start fighting, killing and destroying lives and properties for who should be the next King.

OGHENAOGIE:
is the throne hereditary?? Or it's rotation like other places amongst royal houses or places they do by clan like Agenebode