Nigeria’s President,President Bola Tinubu has written to the National Assembly, seeking an amendment to the 2022 supplementary appropriation Act.
The president, in a letter to the House of Representatives, said the amendment was to allow the Federal Government to source N500 billion for palliatives to cushion the effect of subsidy removal on Premium Motor Spirit ( PMS).
The Speaker of the House of Representatives, Tajudeen Abbas, made this known during Wednesday plenary through Tinubu’s letter, titled, ‘Request for the amendment of the 2022 appropriation act, he read to the green chamber.
The letter reads:
“I write to request the approval of the House of Representatives for the amendment of the 2022 supplementary appropriation act in accordance with the attached.
“The request has become necessary in other to among other things source for funds necessary to provide palliatives to mitigate the effect of the recent removal of fuel subsidy on Nigerians.
“Thus the sum of N500 billion only has been extracted from the 2022 supplementary appropriation act of N819.536 billion for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I hope that the House of Representatives will consider the request,” the letter read.
Tinubu,on assumption of office on May 29, ended the subsidy regime which he said was detrimental to the economic prosperity of the country.
According to him, the regime apart from helping a few stupendously rich also subsidised petrol for neighbouring countries.
The president also promised to provide palliatives to cushion the effect of the removal of the subsidy on Petrol.
