Subsidy Removal: Tinubu Writes National Assembly Request N500b For Palliative.

President Bola Tinubu has recently sent a letter to the National Assembly, specifically the House of Representatives, requesting an amendment to the 2022 supplementary appropriation Act. The purpose of this amendment is to enable the Federal Government to obtain N500 billion in funds for palliatives, which will help alleviate the impact of subsidy removal on Premium Motor Spirit (petrol).

During a plenary session on Wednesday, the Speaker of the House of Representatives, Tajudeen Abbas, read out the letter from President Tinubu. The letter, titled 'Request for the amendment of the 2022 appropriation act', outlined the need for the amendment in order to address the subsidy removal issue.

President Tinubu stated that the N500 billion would be sourced from the 2022 supplementary Appropriation Act, which has a total budget of N819.5 billion. This request comes approximately six weeks after President Tinubu publicly announced the end of subsidy payments for petroleum.

The amendment to the appropriation act is seen as a proactive measure to mitigate the potential negative effects of subsidy removal on the Nigerian populace. By allocating funds for palliatives, the government aims to provide support and relief to those who may be adversely affected by the removal of petrol subsidies.

This move by President Tinubu reflects a commitment to addressing the challenges associated with subsidy removal and demonstrates a proactive approach to ensuring the welfare of the Nigerian people. The amendment, if approved by the National Assembly, will enable the government to effectively manage the transition away from petroleum subsidies and provide necessary support to the citizens during this period of change.

Edited by OpenAI.