Nigeria's House of Representatives vote against purchasing presidential yacht

The Nigerian lower chamber of parliament has rejected the government's proposal to purchase a presidential yacht for $6 million. Many Nigerians criticized the plan, considering it a waste of money during an economic crisis. Instead, lawmakers decided to use the $6 million to double the allocation for student loans. President Bola Tinubu, who took office in May, promised to cut wasteful spending and address people's financial hardships. However, he received backlash when he presented a supplementary budget to the National Assembly, which included the planned purchase of the yacht as part of the Nigerian Navy's capital expenditure. Activist Shehu Sani commented on the irony of the poor struggling to survive while their leader enjoys yachting. President Tinubu's spokesperson clarified that the request for a yacht came from the navy, not the president himself. The budget was eventually approved by the House of Representatives, but the allocation for a presidential yacht was declined. The budget also includes expenses for luxury vehicles, a presidential office complex, and the presidential air fleet, totaling $36 million and $15 million respectively. This controversy arises as President Tinubu faces criticism for the cost-of-living crisis and the significant depreciation of Nigeria's currency. Nigeria's annual inflation rate reached 26.7% in September, exacerbating the difficulties faced by the 137 million Nigerians living in extreme poverty. Advocacy group Socio-Economic Rights and Accountability Project (SERAP) argued that buying a yacht could not be justified given the dire circumstances. Critics accused the government of prioritizing luxury spending while neglecting the well-being of the Nigerian people. President Tinubu's spokesperson clarified that the president and vice-president did not plan to add new vehicles to their fleet and were using vehicles inherited from the previous administration. The budget for vehicles was designated for civil servants and political aides at State House.