President Bola Ahmed Tinubu has written a letter to the National Assembly, requesting for N500 billion for palliative to cushion the effect of fuel subsidy removal.
The palliative is part of an amendment to the 2022 supplementary appropriation Act.
The purpose of this amendment is to enable the Federal Government to access N500 billion to provide palliative measures and reduce the impact of subsidy removal.
The President stated that the funds will be obtained from the 2022 supplementary appropriation Act of N819.5 billion.
He says it is necessary to reallocate a portion of this budget to address the immediate needs of the people affected by the subsidy removal.
The letter titled: “Request for the amendment of the 2022 appropriation act” 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”.
This letter was read on the floor of the house on Wednesday with the speaker of the House, Tajudeen Abbas saying , the house will consider the President’s request at plenary on Thursday and asked members will to make contribution to be prepared to do so.
