Living up to its responsibility of proper oversight functions, the House of Representatives has rejected the N5 billion budgetary allocation for presidential yacht as contained in the proposed supplementary budget presented by the presidency.
This is as the Green Chamber increased student loan allocation from N5.5 billion to N10 billion.
Recall that President Bola Tinubu had in a supplementary budget presented to the National Assembly earmarked N5 billion for presidential Yacht to form part of the nation’s vessels.
The proposed presidential yacht has since attracted negative comments from the general public especially netizens with many asking for its justification.
While briefing journalists on Thursday, the Chairman of the House of Representatives’s Committee on Appropriation, Abubakar Bichi Abubakar, made it known that the proposed presidential yacht has been ruled out.
He premised the action of the House to the need to increase the low budgetary allocation for student loan.
He said the lawmakers also increased budgetary allocation of the Ministry of Defence from N476 billion to N546 billion following security concern.
Bichi said the minimum wage for workers was considered and approved by the House for transmission to the executive, while promising proper legislative oversight to ensure 100 per cent implementation.
More details soon….
