Nigerian Navy Confirms Delivery of N5bn Yacht, Faces Payment Crisis Amid National Assembly Opposition

In the midst of a heated debate surrounding the acquisition of a N5 billion presidential yacht by the Federal Government, as outlined in the 2023 supplementary budget presented to the National Assembly, the Nigerian Navy has officially acknowledged receiving the yacht.

Commodore Adedotun Ayo-Vaughan, the Director of Information for the Nigerian Navy, confirmed the delivery of the yacht during an interview on Friday. He revealed that the yacht had been in the country since June 2023, emphasizing that the request for the replacement of the defunct presidential yacht was long overdue, dating back to the administration of former President Muhammadu Buhari. The Navy stated that the yacht was intended for training purposes.

However, the payment for the yacht faces potential delays due to opposition from both chambers of the National Assembly, as federal lawmakers have refused to approve the funds for the yacht. While the yacht is now in the country, the method of financing it remains uncertain in the days and months to come.

Senate Chief Whip Ali Ndume clarified that the presidential yacht had been signed and delivered but not yet paid for, noting that the Senate had raised concerns about the budgeted amount for the yacht. He pointed out that the budget was based on a dollar rate, and the new rate was significantly higher than expected.

The N5 billion allocated for the yacht in the supplementary budget was included because it had not been paid for, according to Ndume. He reassured that the President is not inclined towards luxury and would not personally use such a yacht.

The Nigerian Navy justified the purchase, explaining that it was a long-overdue request for a presidential yacht to replace the defunct MV AMARIA. This yacht was also intended for the Presidential Fleet Review 2023 held in May of the same year.

However, the opposition within the National Assembly has raised concerns about the payment for the yacht. As government procurement is subject to legislative approval, the removal of the yacht’s payment from the supplementary budget could create a financial crisis for the acquisition and subsequent use of the yacht.

The Senate and the House of Representatives have reportedly aligned on reallocating the N5.095 billion earmarked for the presidential yacht to the student loan program. The Senate Spokesperson, Yemi Adaramodu, clarified that both chambers had agreed on this decision, and the Senate did not explicitly approve any funds for the presidential yacht.

In response to the ongoing debate, the House of Representatives emphasized that government procurement without legislative approval is unconstitutional and void. The House scrapped the allocation for the yacht and redirected the funds to support the proposed student loan scheme.

The National Assembly’s opposition to funding the presidential yacht has triggered concerns about the future of the payment and its potential impact on the Nigerian Navy’s operational activities. The situation is expected to be discussed further during an emergency sitting of the Senate.