BREAKING: Tinubu writes NASS, seeks N500b to cushion subsidy removal
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President Bola Ahmed Tinubu has sought the approval the National Assembly for N500 billion as palliative to cushion the effect of removal of fuel subsidy.
This was contained in a letter read on the floor of the House of Representatives by the Speaker, Hon. Tajudeen Abbas, on Wednesday during plenary.
In the letter entitled “Request for the amendment of the 2022 appropriation act”, President Tinubu said the money will be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.
The reads in part: “I write to request the approval of the House of Representatives an amendment of the 2022 appropriation act in accordance with the law.
“The request has become necessary in other to source for 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 tht provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request”.
Hon. Abbas assured that the House will consider the President’s request at plenary on Thursday. Read more.
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