FUEL SUBSIDY REMOVAL: PRESIDENT TINUBU WRITES NASS, SEEKS N500BN FOR PALLIATIVES

𝗙𝘂𝗲𝗹 𝗦𝘂𝗯𝘀𝗶𝗱𝘆 𝗥𝗲𝗺𝗼𝘃𝗮𝗹: 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗧𝗶𝗻𝘂𝗯𝘂 𝗪𝗿𝗶𝘁𝗲𝘀 𝗥𝗲𝗽𝘀, 𝗦𝗲𝗲𝗸𝘀 𝗔𝗽𝗽𝗿𝗼𝘃𝗮𝗹 𝗢𝗳 𝗡500𝗯𝗻 𝗙𝗼𝗿 𝗣𝗮𝗹𝗹𝗶𝗮𝘁𝗶𝘃𝗲𝘀

Nigeria's President Bola Tinubu has requested the House of Representatives to amend the 2022 Supplementary Appropriation Act.

The President in a letter addressed to the Speaker of the House, Abbas Tajuudeen, read at plenary on Wednesday said the amendment is to extract N500 billion from the 2022 supplementary budget of N819. 5 billion, to provide palliatives to cushion the effect of subsidy removal.

The letter read: “I write to request for the amendment of the 2022 supplementary Appropriation Act. The request became necessary to provide necessary palliatives to mitigate the effects of the removal of fuel subsidy on Nigerians.

“Thus, the sum of N500 billion has been extracted from the 2022 supplementary appropriation act of N819.536 billion for the provisions of palliatives to cushion the effects of subsidy removal. I seek the expeditious consideration of this request.”

After reading the request, the speaker said the lawmakers would consider Tinubu’s request at plenary on Thursday.