Subsidy: Tinubu Writes Reps, Seeks N500bn Approval For Palliatives

July 12, 2023

President Bola Tinubu has written to the National Assembly, seeking an amendment to the 2022 supplementary appropriation Act.

Tinubu, in a letter to the House of Representatives, said the amendment was to allow the Federal Government to source N500 billion for palliatives to cushion the effect of subsidy removal on Premium Motor Spirit known as petrol.

Channels Television reports that during plenary on Wednesday, the Speaker of the House of Representatives, Tajudeen Abbas, read Tinubu’s letter, titled, ‘Request for the amendment of the 2022 appropriation act’.

According to the President, the money would be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.

This is coming about six weeks after Tinubu announced that the payment of subsidy on petroleum was over.