President Tinubu Requests NASS Approval of N500 Billion
President Bola Tinubu asked the national assembly to amend the 2022 supplementary appropriation act so that the federal government under his watch can source N500 billion palliative to cushion the fuel subsidy removal’s effect.
This was disclosed in a letter read on the floor of the House of Representatives by the Speaker, Tajudeen Abbas, on Wednesday, July 12, The Nation reported. In the letter, President Tinubu said the money would be sourced from the 2022 supplementary Appropriation Act of N819. 5 billion.
The president explained that the request become necessary so that his administration can source for funds to provide needed palliatives to confront the challenges emanating from the removal of the fuel subsidy recently.
Tinubu expressed optimism that the House of Representatives will immediately consider the request for approval. He noted that the N500bn will be extracted from the 2022 appropriation act of N819.536 for palliative provisions for Nigerians.
On his part, the speaker of the House of Representatives, Tajudeen Abbas, disclosed that the request of Mr. President would be considered during plenary on Thursday, July 13, asking members to prepare their contributions to the request.