Just In: Reps reject purchase of presidential yacht

The House of Representatives has scrapped the controversial budgetary allocation for the purchase of the presidential yacht.

The Chairman of the House Commitee on Appropriations Hon.Abubakar Bichi disclosed this to Newsmen shortly after the passage of the N2.77 trillion worth 2023 supplementary budget.

Bichi also eplained that the N5 billion monetary allocation for the purchase of the yacht had been moved to student loan thereby increasing the allocation for student loan to N10 billion.

The  allocation for students loan as proposed by President Bola Tinubu was initially N5. 5 billion.

He emphasized that the need to effect those changes became necessary following low budgetary allocation for students in the country .

Further more, the Committee also increased budgetary allocation of ministry of Defence from N476bn to N546bn following owing to serious security implication and complication across the country.

Hon Bichi also used the opportunity to inform that the minimum wage for workers was also considered during plenary and was approved for onward transmission to the executive while he also promised proper legislative oversight to ensure 100 percent implementation of the budget.