Tinubu writes NASS, seeks approval for N500bn palliatives to Nigerians

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President Bola Tinubu has submitted a formal request to the National Assembly, urging them to approve the allocation of N500 billion for palliatives aimed at mitigating the impact of the recent removal of fuel subsidy on Nigerians. The letter, which was read during a plenary session by the Speaker of the House of Representatives, Tajudeen Abbas, emphasized the necessity of sourcing funds to provide immediate relief to the Nigerian people.

In his letter, President Tinubu highlighted the significance of implementing measures to cushion the effects of the fuel subsidy removal, acknowledging the potential financial burden it could impose on the populace. He specifically requested that N500 billion be extracted from the 2022 Supplementary Appropriation Act, which has a total allocation of N819,536,937,815, for the purpose of funding the proposed palliatives.

The President stressed the urgency of the matter and expressed his hope that the House of Representatives would consider his request expeditiously. He recognized the importance of swift action in providing relief to the Nigerian citizens who may be negatively affected by the removal of the fuel subsidy. By allocating funds for palliatives, the government aims to alleviate the financial strain and ensure that the well-being of the Nigerian people is protected.

In response to President Tinubu’s request, the Speaker of the House of Representatives, Tajudeen Abbas, assured that the matter would be given due consideration. He announced that the request would be discussed during the next session on Thursday, July 13, and urged members of the House to be prepared for a comprehensive debate.

The approval of N500 billion for palliatives demonstrates the government’s commitment to addressing the potential hardships arising from the removal of the fuel subsidy. The funds will be used to implement various measures aimed at providing immediate relief and support to those who may be adversely affected. While the specific details and mechanisms of the proposed palliatives were not outlined in the letter, it is expected that the National Assembly will thoroughly assess the request and make informed decisions on the allocation and utilization of the funds to ensure maximum benefit for the Nigerian people.

By taking proactive steps to alleviate the burden on Nigerians, the government aims to demonstrate its commitment to the well-being and welfare of its citizens. The successful implementation of effective palliative measures will help minimize the potential negative impacts of the fuel subsidy removal and ensure that Nigerians can navigate through this transitional period with greater ease and financial stability.

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