Subsidy: Tinubu write Reps, request N500bn fund for palliatives

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By Christiana Ekpa

President Bola Tinubu has requested the House of Representatives to amend the 2022 Supplementary Appropriation Act, to make provision for N500 billion fund for parlatives for Nigerians.

The President in a letter addressed to the Speaker of the House, Abbas Tajuudeen, read at plenary on Wednesday said the amendment is to extract N500 billion from the 2022 supplementary budget to provide palliatives to cushion the effect of subsidy removal.

The letter read: “I write to request for the amendment of the 2022 supplementary Appropriation Act.

The request became necessary to provide necessary palliatives to mitigate the effects of the removal of fuel subsidy on Nigerians.

“Thus, the sum of N500 billion has been extracted from the 2022 supplementary appropriation act of N819.536 billion for the provisions of palliatives to cushion the effects of subsidy removal. I seek the expeditious consideration of this request.”