The House of Representatives re-allocated the N5 billion earmarked for the presidential yacht to student loan in the supplementary budget.
The Chairperson of the House Committee on Appropriation, Abubakar Bichi , announced this on Thursday after the passage of the N2.17 trillion supplementary budget by the House.
"As far as we are concerned we don't have that presidential yacht anymore. We have increased the student loan. The N5 billion for the presidential yacht was listed under the budget of the Nigerian Navy but was moved to the student loan section by the House apparently after the public outrage that trailed the allocation.in June was supposed to take off in September but the president announced recently that the implementation had now been scheduled for January 2024.However, the House ignored public outcry and retained the N28 billion allocated to the State House.
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