Reps re-allocate N5b earmarked for presidential yacht to student loan

Reps re-allocate N5b earmarked for presidential yacht to student loan
In the 2023 supplemental budget, the House of Representatives moved N5 billion that was originally earmarked for the presidential yacht to student loans.

The House of Representatives has withdrawn its proposal for a N5 billion presidential boat, according to Abubakar Bichi (APC, Kano), the chairwoman of the House Committee on Appropriations. He made this declaration during plenary.

Bichi made these remarks after the House passed the N2.17 trillion supplemental budget. She also informed reporters that the committee had decided to transfer the funds to the student loan division, bringing the total amount to N10 billion.

A report claiming that President Bola Ahmed Tinubu's administration had suggested setting aside money in the 2023 supplemental budget for the acquisition of a N5.095 billion presidential boat was refuted earlier on Thursday by the Presidency.

Through the comprehensive supplemental appropriation records of Ministries, Departments, and Agencies (MDAs) that Nairametrics was able to get, the request was made public.

Temitope Ajayi, the President's Senior Special Assistant for Media and Publicity, refuted the story in a statement released on Thursday.

According to Ajayi, some people, CSOs, and some media outlets have made it a habit to select one or two budget line items for dramatic headlines each budget cycle while purposefully omitting any supporting information from their reports.

Ajayi claims that inaccurate portrayals of topics and facts leave the audience, which is supposed to gain from excellent journalism and which should primarily educate and adequately inform, bewildered and misinformed.

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