Why Rep Swaps Presidential Yacht from Budget, Upgrades N5bn Allocation to Student Loan…see details

Today, the House of Representatives has put into consideration the large number of students in the nation coupled with the high cost of survival in the nation and 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.

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

Hear him, ‘’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.’’