President Bola Tinubu has forwarded to the National Assembly an amendment to the 2022 supplementary Appropriation Act to allow the Federal Government to source N500 billion for palliatives to cushion the effect of the petrol subsidy removal.
In a letter addressed to the Speaker of the House of Representatives, Mr Tajudeen Abbas, and read at plenary on July 12, Tinubu said the money will be sourced from the 2022 supplementary Appropriation Act of N819. 5 billion.
The letter is titled, “Request for the amendment of the 2022 Appropriation Act”.
It states: “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 the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request”.
In his remarks, the Speaker said the House will consider the President’s request at plenary on Thursday, July 13, urging lawmakers to prepare ahead to make useful contributions.