FG ALLOCATES N5.5 BILLION FOR STUDENT LOANS AND N5 BILLION FOR A PRESIDENTIAL BOAT.

Babatunji Wusu –

According to reports, the Federal Government has set aside N5.5 billion for the Education Loan Fund and N5 billion for the purchase of a Presidential Yacht.

The amount is a portion of the N2.17 trillion supplemental budget that President Bola Tinubu submitted to the National Assembly for approval.

The Nigerian Navy suggested spending N20.42 billion on recurrent expenses and N42.3 billion on capital expenditures, for a total budget of about N62.8 billion, according to the paper.

The Nigerian Navy’s budget plan also includes the following items: buying vehicles, building naval bases in Lekki and Epe, supplying necessary equipment, and buying ammunition.

Additionally, N5.1 billion was allocated for the Federal Capital Territory’s (FCT) 100 schools in 100 days program for school reconstruction.