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Reps Scrap Presidential Yacht Budget, Increase Student Loan To N10bn

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Following public outcry over the allocation of N5.095 billion for the purchase of a presidential yacht in the 2023 supplementary budget, the House of Representatives, on Thursday, said it had scrapped the budgetary allocation.

Chairman of the House Appropriations Committee, Abubakar Bichi, disclosed this in an interview with journalists on Thursday. He said the budgetary allocation for student loans was also increased from five billion to N10 billion.

He said the committee also increased the budgetary allocation of Ministry of Defence from N 476 billion to N546 billion.

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Bichi also disclosed that the minimum wage for workers was considered and approved for onward transmission to the executive. He promised proper legislative oversight to ensure 100 per cent implementation.

READ ALSO: BIR Seals Dozens Of Business Premises In Abia Over Tax Default

In the supplementary budget sent to the National Assembly by the President, the Federal Government had allocated N5 billion to purchase a presidential yacht.

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The proposed sum was under the capital expenditure of the Nigerian Navy’s budget.

According to the breakdown, the Navy will require N62.8 billion for its operations, with recurrent expenditure and capital expenditure gulping N20.4 billion and N42.3 billion, respectively

But Bichi said the five billion naira for the presidential yacht has been yanked off from the budget.

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He said: “Actually We have submitted our reports to the House and after a careful consideration, the House has approved our submissions and the breakdown is as follows.

READ ALSO: 14-yr-old Boy Commits Suicide In Calabar

“As you know, the budget is about N2.1tn and the ministry of defence has about N456bn but currently ministry of defence has the largest share because we know how important our security is. As you aware, we have interaction with them yesterday. Currently, we have increase their budget from N456bn to N546, 209,099,671 billion.

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“For Police formation and command, we gave them N50bn while the FCT has about N100bn. You know FCT is very important to us, so we want to make sure that FCT can compete with any state in the world. That is why we gave them N100bn.

“On the office of national security, their initial budget was N27bn but currently we have increase their budget to N50bn. For the state house, their initial budget was N28bn and we maintained that.

“On ministry of Agriculture and food security, you know how important that ministry is, we maintained their initial figure of N200bn as well. For ministry of housing, you know we have serious housing deficit in the country and Mr. President agenda, he wants to build as much as he can, so we have approve N100bn for housing.

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“Service wide votes initially was N615 but currently we reduced to N515bn.

“For INEC, initially their budget was N18bn, and yesterday we had an interaction with the INEC Chairman and he convinced us with his submissions and we maintained their N18bn.

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“So far, we have approved N2,176, 791, 286, 33 trillion. We will continue to support the goverment so we can deliver democracy.

On the presidential yacht, Bichi said: “Actually, as far we are concerned, we don’t have that anymore. We have increased the student loan. Initially, student loan was N5bn in the budget but we have increased it to N5bn so that our students can access that facility in order for them to go to school. We don’t have the Yatch anymore in budget.”

He assured that lawmakers would ensure adequate oversight over the way the funds are spent, saying that “our members especially those standing committees oversight those project and ensure the money are used judiciously. From now to three months we are going to call them and ask them what they have done with the money. “

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Ex-Edo Gov Obaseki Reacts As His Cousin Is Beaten, Stripped

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The immediate past governor of Edo State, Godwin Obaseki, has reacted to the attack on Don Pedro Obaseki, the Chief Executive Officer of Osamudia Farms.

Don Pedro Obaseki, a cousin to the immediate past governor was attacked at Uwa Primary School where he went to play football.

In a viral video, Pedro Obaseki is seen kneeling at the Oba of Benin Palace gate, before he was dragged into the palace where he was asked to crawl before some chief walked up to the scene and rescued him.

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Reacting, the ex-Edo governor described the act as a “grave violation of fundamental human rights and a reckless disregard for the rule of law.”

READ ALSO: Obaseki Beaten, Stripped In Edo

Obaseki, said: “I call on security agencies to immediately investigate this matter thoroughly and transparently, identify those responsible for this barbaric act and ensure they are held accountable in accordance with the law.

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“A situation where thugs and non-state actors appear to freely take the law into their own hands on behalf of high-profile individuals and those in positions of authority can only result in one outcome, a degeneration into a state of anarchy, which will do no one no good.”

He further charged, “I urge human rights organizations, civil society groups, and all well-meaning Nigerians to lend their voices and speak out firmly against this injustice and gross violation of human rights.”

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New Tax Laws: Suspend January 2026 Implementation — Senator Ndume Tells Tinubu

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Former Senate Leader, Ali Ndume has appealed to President Bola Ahmed Tinubu to suspend the January 1, 2026, implementation of the country’s new tax laws amid growing controversy.

The federal lawmaker made the appeal in a statement he issued on Wednesday in Abuja.

This comes as the Nigerian Bar Association demanded the suspension of the implementation.

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Recall that a member of the House of Representatives, Abdussamad Dasuki, had last week called the Parliament’s attention to alleged alteration to the tax laws.

READ ALSO:FIRS Confirms NIN As Tax ID

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, in an interview on Arise Television on Wednesday, called for calm over claims of alterations in tax laws and urged Nigerians to allow lawmakers to complete their investigation before drawing conclusions.

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Speaking on the ongoing controversy about the tax laws, Ndume noted that proceeding with the implementation without getting to the root of the alleged forgery will create a legitimacy challenge for the tax laws.

His statement read, “With the controversy surrounding it, the President should constitute a team to verify the veracity of the claim and act accordingly.

“As the responsive leader that he has always been, he should look at it to find out if the copy that was signed and the claim of alterations are genuine so that he will do the needful to bring the controversy to rest.

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READ ALSO:US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

“If not, the controversy will continue.” That is to say, the tax law will not be implemented, because you can’t build on nothing.

“So, Mr. President should suspend the implementation until the issues are resolved because so many civil society organizations, the Arewa Community, and the Nigerian Bar Association are saying that he should withdraw the tax law and investigate the allegation of forgery.”

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“Therefore, Mr President should get to the root of the allegation of forgery. The small committee that will be set up should look into it while the House of Representatives does its own.”

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Tambuwal Engages Security Agencies As US Airstrikes Hit Own LG In Sokoto

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Senator Aminu Waziri Tambuwal, representing Sokoto South, has called on residents of Sokoto State to remain calm following reports of United States airstrikes targeting ISIS-linked terrorists on Christmas Day.

In a statement posted on his personal X account, the former Sokoto State governor said he was aware of reports concerning the airstrikes, which marked a direct US military action in Nigeria based on intelligence about ISWAP threats, and urged citizens to remain law-abiding while authorities clarify the situation.

“I have noted the reports concerning an airstrike carried out as part of ongoing counterterrorism efforts through cooperation between the federal government of Nigeria and the United States,” Tambuwal said. “I urge our communities to remain calm and law abiding as relevant authorities clarify the circumstances surrounding the operation.”

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READ ALSO:US Dept Of War Shares Video Of Air Strikes In Nigeria

Tambuwal assured constituents that he was engaging with relevant security agencies to obtain full details of the operation and to ensure that necessary things were in place to protect civilians.

I wish to assure the people of Sokoto South that I am in active talks with relevant security authorities to obtain full details and ensure that all necessary safeguards are upheld,” he added.

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The senator emphasised that counterterrorism operations were aimed strictly at criminal and terrorist elements threatening public safety, not innocent civilians who are often victims of insecurity. He stressed that the protection of civilian lives must remain central to all legitimate security actions.

He further called on community leaders, traditional institutions and residents to work closely with security agencies by sharing credible intelligence and resisting misinformation capable of causing fear or heightening tension.

 

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