Reps speedily approve Tinubu’s N500bn request to cushion subsidy removal

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The house of representatives has passed an amendment to the Supplementary Appropriation Act, 2022.

 

The amendment passed first, second and third readings during plenary on Wednesday.

 

President Bola Tinubu had asked the lawmakers to approve the N500 billion, in order to allow the federal government provide palliatives to cushion the effects of petrol subsidy removal on Nigerians.

 

The sum is to be extracted from the N819 billion Supplementary Appropriation Act, 2022.

 

During his inaugural speech on May 29, Tinubu declared that “fuel subsidy is gone”. The announcement immediately led to resurfacing of long queues at petrol stations and a hike in the pump price of the product.

 

Nigerians have been feeling the pangs of that declaration, amid increased economic hardship, hike in transport fares, spiralling inflation and widespread poverty.

 

The president had promised that palliatives would be introduced to cushion the economic hardship.


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  1. Approving loan request that the Executive will share is unwise. Please channel the funds to produce goods and services that will help the Nigerian cause. Sharing money will impoverish Nigeria the more. I think in my opinion that it is a failed project on arrival. You can only share monies that you have and not borrowed Moni.

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