House of Reps transfers N5 billion budgeted for presidential yacht to student loans

The Nigeria House of Representatives has transferred the N5 billion initially budget for a presidential yacht to student loans.

The chairman of the house of representatives committee on appropriations, Abubakar Bichi, disclosed this in Abuja on Thursday,
November 2.

According to him, “As far as we are concerned we don’t have that 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.”