BREAKING: President Tinubu Seeks Approval for N500 Billion as Palliative for Subsidy Removal - Breaking News in Nigeria today 247 | TheWatchNGR

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Wednesday, July 12, 2023

BREAKING: President Tinubu Seeks Approval for N500 Billion as Palliative for Subsidy Removal


President Tinubu seeks House of Representatives approval for N500 billion as palliative for subsidy removal


In a letter read by the Speaker Tajudeen Abbas, the N500 billion request will be sourced from the N819.5 billion in the 2022 Supplementary Appropriation Act.


“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 other to source 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,” Tinubu’s letter partly reads.

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