Fuel subsidy: Tinubu requests National Assembly’s approval for N500bn palliatives

President Bola Tinubu has requested the National Assembly’s approval of N500 billion for palliatives to cushion the effects of fuel subsidy removal on Nigerians.

The president requested the parliament’s approval in a letter addressed to the House of Representatives and read by the Speaker, Tajudeen Abbas, at plenary on Wednesday.

The letter read: “I write to the House of Representatives to approve the amendment of the 2022 Supplementary Appropriation Act.

“The request has become necessarily important to among other things source for funds necessary to provide palliative to mitigate the effect of the removal of fuel subsidy on Nigerians.

“Thus, the sum of N500 billion Naira only has been extracted from the 2022 Supplementary Act of N819,536,937,815 for the provision of palliatives to cushion the effect of petrol subsidy removal.

READ ALSO: Fuel subsidy: APC governors meet Tinubu in Lagos, to complement Nigerian govt on palliatives

“While I hope that the House of Representatives will consider this request expeditiously.”

In his ruling, the Speaker said the House would consider the request on Thursday and urged the lawmakers to prepare for the debate.

The president had last month promised to put measures in place to cushion the effects of the fuel subsidy removal on Nigerians.

Tinubu announced the end of the subsidy regime in his inaugural address on May 29.

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