The House of Representatives on Thursday re-allocated the N5 billion originally allocated for the presidential yacht to student loans in the 2023 supplementary budget.
The announcement was made by Abubakar Bichi, the chairperson of the House Committee on Appropriation (APC, Kano), during a plenary session. He disclosed that the House of Representatives had removed the proposed N5 billion allocation for a presidential yacht.
This decision came after the House passed the N2.17 trillion supplementary budget, and Bichi informed the press that the committee had reached a consensus to reallocate the funds to the student loan section, increasing it to a total of N10 billion.
On the same day, the Presidency refuted a report claiming that President Bola Ahmed Tinubu’s administration had proposed a N5.095 billion allocation in the 2023 supplementary budget for the purchase of a presidential yacht.
The request became known when the detailed supplementary appropriation documents of Ministries, Departments, and Agencies (MDAs) were obtained by Nairametrics.
Nonetheless, on Thursday, Temitope Ajayi, a Senior Special Assistant to the President on Media and Publicity, released a statement refuting the report.
Ajayi pointed out that it has become a recurring pattern for certain individuals, Civil Society Organizations (CSOs), and a segment of the media to select specific line items from each budget cycle to create sensational headlines, often neglecting the context in their reporting.
Ajayi explained that the general public, who should be the beneficiaries of responsible journalism aimed at educating and providing accurate information, often find themselves bewildered and misinformed because of the misinterpretation of issues and the distortion of facts.