Subsidy removal: Tinubu moves to give Nigerians N500 billion for palliatives

The President, Asiwaju Bola Tinubu has made a move by writing to the National Assembly, seeking for the sum of N500 billion to be made available to Nigerians as palliative, to cushion the effect of the removal of subsidy on fuel.

He is therefore, seeking an amendment to the 2022 Supplementary Appropriation Act to be able to obtain the amount.

The President, in the letter, stressed that the amendment is to allow his government to source N500 billion for palliative to cushion the effect of subsidy removal for Nigerians.

Speaker of the House of Representatives, Tajudeen Abbas, read the president’s letter during plenary today, July 12.

In the letter, titled: “Request for the amendment of the 2022 appropriation act,” President Tinubu said that the money would be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.

“I write to request the approval of the House of Representatives for an amendment of the 2022 appropriation act in accordance with the law.

“The request has become necessary in order 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 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 letter read.

The speaker said that the lawmakers would consider Tinubu’s request at plenary tomorrow, July 13.