Senate Denies N5bn Yacht Allocation In 2023 Budget

The Senate has officially declared that it did not give its approval for the allocation of N5 billion in the 2023 supplemental budget for the acquisition of a presidential yacht, Readership NG reports.

Recent reports on Thursday suggested that the House of Representatives had included the yacht payment in the student loan budget, while the Senate had reportedly endorsed the payment for the yacht.

Senate Spokesperson Yemi Adaramodu clarified the Senate’s position in an interview with The Punch, making it clear that the Senate had not granted approval for the payment of the presidential yacht.

He further explained that the Senate had supported the House of Representatives in reallocating the funds designated for the presidential yacht to be added to the student loan budget.

Adaramodu emphasized that the Chairmen of Appropriation in both the Senate and the House of Representatives had reached an agreement to transfer the yacht allocation to the student loan fund presented to the lawmakers.

He said, “It was an agreement that was signed by both chambers. The fact that the Senate didn’t expressly mention it doesn’t mean that we were not on the same page.

“One chamber cannot singlehandedly sign a supplementary budget, the paper presented at the Senate was the same presented at the House. Both chairmen consolidated their reports and presented them at the plenary.

“As the Chairman of the Senate Committee on Media and Publicity, I can tell you that we didn’t approve any money for the presidential yacht.”