BREAKING: Reps removes presidential yacht from budget, transfers N5 billion allocation to student loan

The House of Representatives has removed the controversial presidential yacht item in the 2023 supplementary budget and transferred the N5 billion allocated for it to student loan.

This was made known by the Chairman, House Committee on Appropriation, Abubakar Bichi (APC, Kano), on Thursday, November 2, while addressing journalists after the passage of the N2.17 trillion supplementary budget by the House.

Bichi said that the committee had eliminated the item and transferred the funds to the student loan division, totalling N10 billion.

He said, ‘’As far as we are concerned, we don’t have the presidential yacht anymore. We have increased the student loan. If you recall, the student loan was N5 billion in the budget. But we have increased it to N10 billion.’’

This is a developing story…

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