Fuel subsidy: President Tinubu pens National Assembly, seeks N500 billion for palliatives

President Bola Tinubu has written to the National Assembly seeking an amendment to the 2022 supplementary budget Act to allow the Federal Government to source N500 billion for palliative to cushion the impact of subsidy removal.

The Speaker of the House of Representatives, Tajudeen Abbas, who read the president’s letter during plenary on Wednesday, said the money would be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.

The letter was titled: “Request for the amendment of the 2022 appropriation Act”, and reads, “I write to request the approval of the House of Representatives for an amendment of the 2022 appropriation Act by the law.

“The request has become necessary in other to source funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria.

“The sum of N500 billion only has been extracted from the 2022 appropriation act of N819.536 for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request.’’

The speaker said the lawmakers would assess Tinubu’s request at plenary on Thursday and asked members who will make contributions to be instructed to do so.

Edited by Damilola Adeleke

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