The House of Representatives approved President Bola Tinubu’s proposal to source 500 billion naira from the approved budget to offer palliatives for Nigerians after the withdrawal of the petrol subsidy and revised the 2022 supplementary appropriation act.
The lawmakers claimed that the quick passage of the 2nd and 3rd readings of this amendment, which was made 24 hours after the president requested it, was due to the urgency with which the effect of the subsidy’s elimination needed to be mitigated.
The lawmakers encouraged the president to make sure that the proposed monies were used wisely.
In the meantime, President Tinubu said that 12 million families will get N8,000 over the course of six months to lessen the sufferings brought on by the loss of subsidies.
In a letter to the House of Representatives that Speaker Tajudeen Abbas read aloud at Tuesday’s session, Tinubu said that the letter was support to help vulnerable and disadvantaged Nigerians manage the cost of satiating their fundamental necessities.
The purpose of the letter was to request authorization for increased funding for the National Assembly-scaled national social safety net initiative. According to the President, this would affect an additional 60 million people.
He believed that digital transfers should be sent directly to beneficiaries’ accounts in order to guarantee the legitimacy and fairness of the procedure.
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