₦airaland Forum

President Tinubu’s plan to spend a whopping N5.09 billion from public fund to buy presidential yacht for himself has sparked controversy

The fund is listed under the Nigerian Navy’s proposed capital expenditure of N42.3 billion.

In addition, the government plans to spend N12.5 billion on the Presidential Air Fleet.

The presidential fleet includes a Boeing Business Jet (Boeing 737-800 or NAF 001), one Gulfstream 550, one Gulfstream V (Gulfstream 500), two Falcons 7X, one Hawker Sidley 4000, two AgustaWestland AW 139 helicopters and two AgustaWestland AW 101 helicopters.

Auwal Musa Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, said some items of the budget defy logical thinking and are best described as insensitive.

“This is financial recklessness. Nigerians are suffering, and the Bola Ahmed Tinubu-led administration seems not concerned about it,” he said.

Kabir Isah, an Abuja-based public affairs analyst, said the government may have to look at more borrowing to fund the budget.

He said: “The government should be looking for ways to boost revenue and not planning to spend the lean revenues on irrelevant items. It is even worse to know there are no plans to patronise our local vehicle manufacturers.”

Read more

https://newsbreakforum.com/n5-09bn-budget-allocation-for-presidential-yacht-stirs-controversy/?doing_wp_cron=1698924060.0752749443054199218750

Nawa o!

In the other news;

Nigeria’s foreign debt rise to $51 Billion as President Tinubu asks for more $7.8 billion, €100 million loans

https://dailypostngr.com/2023/11/nigerias-foreign-debt-to-shoot-up-to-51-billion-as-tinubu-demands-fresh-7-8-billion-e100-million-loans/

The yacht go dey cruise along Lagos bar beach and river Niger... Nice one from thiefnubuuu lokan....

Moneyyyy09:
The yacht go dey cruise along Lagos bar beach and river Niger... Nice one from thiefnubuuu lokan....

Lol, I believe the president will provide clarification on this matter to calm people down