Bagudu, who stated this while speaking at the close of the three-day Cabinet Retreat held at the State House Conference Centre, Abuja, on Friday, November 3, 2023, stressed that the Presidential yacht was not intended for Tinubu’s personal use.
“The mischaracterisation or controversy that followed from the way Navy described the ship has unfortunately generated a controversy but if a budget of N2.2tn 95 per cent of it is okay, I think President Tinubu should be given credit for it,” he said.
Bagudu said the President has no need of a luxury yacht as purported, given that “he is happy with all he has achieved in life, personal comfort does not matter to him.”
“Before he was elected president, he stayed in a three bedroom apartment in Abuja. He lives a modest, humble life,” he said.
Bagudu, who defended the allocation of a significant portion of the budget to defense and security, stressed the importance of these funds in enhancing national security.
“Yesterday, in my comment, I said three things in the panel discussion. First, President Bola Tinubu during the campaigns, had repeatedly emphasized the urgency to tackle security. And not surprisingly 30 per cent of the supplementary budget is for the defense sector,” he said.
He also spoke about the need to support vulnerable populace and keep promises equally 30 per cent of the supplementary budget is also on the on palliatives.
“N400bn cash transfers and N200bn cash awards. Equally infrastructure, about 25 per cent of the supplementary budget is infrastructure. So there you have it, about 85 per cent is in these three areas.”
He said studies by experts had shown the key difference between countries that achieve growth and those who do not is that “they have a plan and they stick to your plan,” he added.