President Muhammadu Buhari has declined assent to a bill seeking the establishment of Nigeria Maritime University in Okerenkoko Delta State.
The decision was conveyed to the Senate in a letter on Thursday.
Mr Buhari stated the excessive proposed source of funding for the institution as the major reason for his decline.
“I am declining my assent to the bill because the funding provisions are grossly excessive and will disrupt the operation of a number of government agencies and institutions,” the letter reads.