Nigeria’s decision to allocate a substantial budget for the purchase of a presidential yacht has stirred controversy and criticism, as citizens grapple with the challenges of an ongoing economic crisis. The move, initially proposed by President Bola Tinubu, has been met with skepticism, leading to heated debates in the National Assembly.

Critics have argued that at a time when Nigeria is facing financial hardship, the allocation of $6 million for a luxury yacht is unjustifiable. Instead, lawmakers, led by Abubakar Bichi, redirected the funds to double the allocation for student loans, reflecting the public’s concerns about spending priorities.

President Tinubu, who took office in May with a promise to reduce government waste and alleviate financial burdens on citizens, found himself at the center of the controversy. The supplementary budget he submitted to the National Assembly included the planned purchase of the yacht as part of the Nigerian Navy’s proposed capital expenditure of $53 million.

Notable human rights activist and former lawmaker Shehu Sani voiced the sentiment of many Nigerians, stating that “the poor can’t be struggling for survival in a canoe while their leader is yachting.” President Tinubu’s spokesperson, Temitope Ajayi, distanced the president from the yacht procurement plans, emphasizing that the request came from the navy, which likely had operational reasons for it.

Despite the public outcry, the budget, which also includes $36 million for State House expenditure, luxury vehicle purchases, and the construction of a presidential office complex, was approved by the House of Representatives. However, Chairman Abubakar Bichi, a member of President Tinubu’s ruling party, revealed that lawmakers declined to approve the allocation for the presidential yacht.

The controversy doesn’t end with the yacht; the budget allocates $15 million for the presidential air fleet, raising further questions about government spending priorities.

This situation unfolds against the backdrop of President Tinubu facing intense pressure due to the cost-of-living crisis and a significant devaluation of the Nigerian currency, the naira, against the dollar. Nigeria’s annual inflation rate reached 26.7% in September, according to official statistics.

In response to the controversy, the Socio-Economic Rights and Accountability Project (SERAP), a prominent advocacy group in Nigeria, pointed out that the purchase of a yacht cannot be justified while millions of Nigerians live in extreme poverty. They noted that the situation worsened after President Tinubu eliminated a fuel subsidy in his inaugural speech, leading to rising fuel and commodity prices.

Activist Omoyele Sowore accused the government of prioritizing luxuries while neglecting the hardships faced by the Nigerian populace. In response, Mr. Ajayi clarified that the president and his vice-president had no plans to add new vehicles to their fleet and were utilizing “inherited vehicles” from the previous administration. He explained that the vehicle budget was intended for hundreds of civil servants and political aides working at the State House.

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