LAGOS, Nigeria (VOICE OF NAIJA)- The House of Representatives have approved President Bola Tinubu’s request for 500 billion naira to support Nigerian families to caution the effect of petrol subsidy removal.
Swift action was taken within 24 hours of the request, with approval to the amendment to the 2022 supplementary appropriation act.
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The amendment passed first, second and third readings during plenary on 12 June.
Recall that President Tinubu drafted a letter to 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.
Tinubu had, during his inaugural speech on 29 May, declared that “fuel subsidy is gone”. The announcement which immediately led to resurfacing of long queues at petrol stations and a hike in the pump price of the product.