The 2022 Appropriations Act modification proposal made by President Bola Tinubu has been granted by the House of Representatives.
According to PUNCH, “The decision was made in response to Tinubu’s demand for N500 billion in palliatives for Nigerians in order to lessen the suffering brought on by the elimination of subsidies.”
Wednesday’s plenary session saw the amendment pass its first, second, and third readings.
But after comments from House members, “the House on Thursday supported the President’s request.”
The president expressed his hope that his request would be “expeditiously” considered by the MPs.
“I write to the House of Representatives to ask them to approve the modification to the Supplementary Appropriations Act for 2022 in accordance with the attached, the letter says.” PUNCH reports.
“The request has become essential in order to, among other things, source the monies required to provide palliative care to Nigerians in order to lessen the impact of the loss of gasoline subsidies.”
Thus, “the 2022 Supplementary Act of N819,536,937,815 has only been reduced by N500 billion to provide palliative measures to mitigate the effects of the elimination of the petrol subsidy.” Source stated.
“A N819 billion additional budget for the fiscal year 2022 was approved by the national assembly in December.”
“The legislature at the time also prolonged the budget’s implementation to March 31, 2023.” According to the source.
PUNCH further reported, “The national legislature amended the 2022 supplemental budget in May 2023 to move the capital components’ implementation date to December 2023.”
Source: PUNCH
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