N5bn Yacht: Navy Faces Payment Crisis Over N’Assembly Opposition

Following the criticism that has continued to greet the N5bn presidential yacht to be procured by the Federal Government listed in the 2023 supplementary budget submitted to the National Assembly, the Nigerian Navy on Friday affirmed that it had taken delivery of the yacht.

The Nigerian Navy confirmed the delivery of the presidential yacht on Friday by the Director of Information, Commodore Adedotun Ayo-Vaughan, in an interview with the Punch.

Given the nation’s current economic circumstances, many Nigerians had thought that the acquisition would be stopped due to widespread criticism; nonetheless, a recent discovery that the item had been given to the nation added a new wrinkle to the story.

According to Ayo-Vaughan, the yacht had been in the country since June 2023, stressing that the yacht was for training.

He, further explained that the service made a “long overdue request” for the replacement of the defunct presidential yacht during the administration of former President Muhammadu Buhari.

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“It was delivered in June 2023. We have not used it yet,” adding that the inability to pay for the yacht was responsible for the delay in using it, “Correct. It’s tied to the non-payment.”

However, there are indications that the payment for the yacht may suffer delay, given the opposition from the National Assembly and refusal to approve its payment.

The presidential yacht agreement mentioned in the supplemental budget has already been signed and delivered, according to Senator Ali Ndume, the Chief Whip of the Senate.

This was said by the politician on Friday during an interview on Arise TV.

The federal government’s plan to purchase a presidential yacht, which is estimated to cost N5 billion in the supplemental budget, was rejected by the House of Representatives, as reported by Naija News.

Nigerians expressed public outrage over the presidential yacht budget, calling the administration callous for spending so much money on such a luxury item in light of the nation’s dire economic circumstances.

Speaking on the situation, Ndume explained that the deal has been signed and delivered but not yet paid for.