The Chief Whip of the Senate, Ali Ndume, on Friday shed light on the contentious issue surrounding the Presidential yacht, which has been the subject of heated debate due to its purported value of approximately N5 billion.
During a recent interview on Arise Television‘s Morning Show, Senator Ndume offered insights into the situation and discussed the supplementary budget review.
The All Progressives Congress Senator, who represents Borno South, stated that the presidential yacht had indeed been ordered, signed for, and delivered. However, payment for the yacht had not been made when it came under public scrutiny. He further disclosed that the Senate had subsequently incorporated the necessary payment allocation within the student loan budget.
Ndume explained, “We raised concerns about the initially budgeted amount for the yacht. It was based on a dollar rate, which has since become less favorable. The initial budget was around N435 million, but due to currency fluctuations, it now stands at over N800 million. Additionally, it’s worth noting that the Navy clarified that this budget was not a new one. To address the concerns raised, the House of Representatives transferred the budget allocation to the Student loan fund. The deal for the yacht has been agreed upon, contracts signed, and the vessel delivered; however, the payment remains pending.”
In addition to the controversy surrounding the presidential yacht, the interview also touched upon the allocation of N160 million for Land Cruiser SUVs for each lawmaker in the National Assembly. Ndume emphasized that this practice of providing government officials with vehicles for their official duties is not a novel concept.
As the debate on the Presidential yacht continues, Senator Ndume’s clarifications provide insight into the financial intricacies involved, shedding light on the complexities of budgeting for such assets in a fluctuating economic environment. Meanwhile, the allocation for Land Cruiser SUVs for lawmakers remains consistent with established practices for government workers.
