The fund is to “source for funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria,” the letter from the President reads.
President Bola Tinubu has written to the National Assembly, seeking an amendment to the 2022 Supplementary Appropriation Act to allow the government to source N500 billion.
The fund is to “source for funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria,” the letter from the President reads.
Tajudeen Abbas, Speaker of the House of Representatives, on Wednesday, the letter read from the President on the floor of the House.
The letter titled, ‘Request for the amendment of the 2022 Appropriation Act’, reads, “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 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 the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request.”
The President’s request will be considered by the lawmakers on Thursday.