In a letter to the National Assembly, President Bola Tinubu asked for a change to the 2022 supplementary appropriation act that would let the Federal Government use N500 billion as a palliative to lessen the impact of the subsidy elimination.
The money would come from the N819.5 billion supplementary Appropriation Act for 2022, according to President Tinubu in a letter to House Speaker Tajudeen Abbas that was read in plenary today, July 12.
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”.
The Speaker said the House will consider the President’s request at plenary on Thursday, July 13, and asked members to prepare to make their contributions.