President Bola Tinubu has written to the National Assembly to seek an amendment to the 2022 supplementary appropriation Act to allow the Federal Government to source N500 billion for palliative to cushion the effect of subsidy removal.

The Speaker of the House of Representatives, Tajudeen Abbas, who read the president’s letter during plenary on Wednesday, said the money would be sourced from the 2022 supplementary Appropriation Act of N819.5 billion.

The letter was titled: “Request for the amendment of the 2022 appropriation Act”, and reads, “I write to request the approval of the House of Representatives for an amendment of the 2022 appropriation Act in accordance with the law.

“The request has become necessary in other to source funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria.

“The sum of N500 billion only has been extracted from the 2022 appropriation act of N819.536 for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request.’’

The speaker said the lawmakers would consider Tinubu’s request at plenary on Thursday and asked members who will make contributions to be prepared to do so.





https://www.pentalk360.com.ng/president-tinubu-writes-nass-to-approve-n500bn-for-subsidy-palliatives/

Nice one. I pray they utilize it well.

Make he share the money more than 1M go reach everyone, but they won't, the money will be shared among themselves....

Druggie wants to cash out as soon as possible before the Tribunal boots him out. Corrupt thieving old man.

I'm sure they want to 'share the money to 100 million vulnerable Nigerians'.

God punish Bulaba and his gang of thieving criminals that have taken Nigeria hostage

When they approve it you they will know the real tinubu that most of his diametricists are are afriaid of. He can pocket 450billion and allow his boys share the rest without doing anything

Why not use the money to subsidize the cost of living. How would the money be distributed?

Palliatives, a cover up name for looting public funds.

fx45:
Druggie wants to cash out as soon as possible before the Tribunal boots him out. Corrupt thieving old man.

I'm sure they want to 'share the money to 100 million vulnerable Nigerians'.

God punish Bulaba and his gang of thieving criminals that have taken Nigeria hostage

Whether you like it or not 'Bulaba' is the one ruling you and your family. Let that sink into o your head. #defeated obidient

fx45:
Druggie wants to cash out as soon as possible before the Tribunal boots him out. Corrupt thieving old man.

I'm sure they want to 'share the money to 100 million vulnerable Nigerians'.

God punish Bulaba and his gang of thieving criminals that have taken Nigeria hostage

They said he saved N400 billions. Why not ask him to use that one. This regime is looting promax

4TFK:
Whether you like it or not 'Bulaba' is the one ruling you and your family. Let that sink into o your head. #defeated obidient

Your family is still begging in the street and you are here yarning okpata

SpecialAdviser:

They said he saved N400 billions. Why not ask him to use that one. This regime is looting promax

So, you expect Mr. President to spend money unappropriated? You need to go back to secondary school

4TFK:
So, you expect Mr. President to spend money unappropriated? You need to go back to secondary school

The joke is on you failing to understand.
How can you save N400 billions and seek up to N500 billions for palliative? Is that business?

The looting has commenced. Nigerians should rise and speak against palliative. There is no palliative better than palliative paid for cheap fuel. There is no palliative better than cheap education. No one better than cheap but quality health care all based on being subsidized by government.
If government can't subsidized these let us run a complete capitalist economy. ₦500 can turn around the fortune of one state . Don't share it. No unnamed or unknown palliative.

SpecialAdviser:


The joke is on you failing to understand.
How can you save N400 billions and seek up to N500 billions for palliative? Is that business?

Mr. Man,BAT only prevented Nigeria from increasing its debt by additional N400billion because immediate past administration has been borrowing to offset subsidy payment. Why dabbling into a matter you know nothing about?

4TFK:
Mr. Man,BAT only prevented Nigeria from increasing its debt by additional N400billion because immediate past administration has been borrowing to offset subsidy payment. Why dabbling into a matter you know nothing about?

BAT and the former administration are mad. What concrete plan did he do before removing subsidies? How can you applaud someone saving N400 billion and ready to spend N500 billion

4TFK:
Mr. Man,BAT only prevented Nigeria from increasing its debt by additional N400billion because immediate past administration has been borrowing to offset subsidy payment. Why dabbling into a matter you know nothing about?

Borrowing where?

NNPC is claiming that since 2016 a single dime was not paid for subsidy

This is not making sense. Forget palliatives and use the saved money for whatever infrastructure you want to use them for. It's the ogas at the top that'd share more than 70% of it amongst themselves.

SpecialAdviser:

They said he saved N400 billions. Why not ask him to use that one. This regime is looting promax

Must you comment. You don't know how government is run, you open mouth waaaa to spew this rubbish.

Not even the president nor a governor can spend money not appropriated.

Government only spend money appropriated.

If you don't know anything ask questions before you spew rubbish .

Confirmedzombie:


Must you comment. You don't know how government is run, you open mouth waaaa to spew this rubbish.

Not even the president nor a governor can spend money not appropriated.

Government only spend money appropriated.

If you don't know anything ask questions before you spew rubbish .

Nobody is querying the process. That comment was meant to highlight his stupid administration. How they claim he saved N400 billion and be seeking N500 billion to spend? Is that business?

duduade16:
Make he share the money more than 1M go reach everyone, but they won't, the money will be shared among themselves....

😁

See as una dey call money.

You wan carry 500 billion take share one one million for everybody!!
😁

Let's assume 50 million people.

50 million times 1 million is 50 trillion.

#50 trillion.

Na 3k each go reach them....

SpecialAdviser:


The joke is on you failing to understand.
How can you save N400 billions and seek up to N500 billions for palliative? Is that business?

400 billion was saved in the first month .. meaning by now , they would have even saved more .

However, the important things how this palliative is rollout for Nigerians effectively without missing in action .

Snowmusic:


400 billion was saved in the first month .. meaning by now , they would have even saved more .

However, the important things how this palliative is rollout for Nigerians effectively without missing in action .

The fact is that this palliative is not the first time we have seen wasted money in Nigeria. Trader money, empower, etc all money meant for looting and wasting.

The mistake BAT made was removing subsidy without proper strategy. Palliative wouldn't have been the option. Critical stakeholder meetings and finding alternative refineries even if it means legalizing the illegal ones would have suffice. Jonathan made strong plans when he took fuel price from 87naira to N140 before removing subsidy.

Tinubu just made a senseless announcement that jumped the price without any plans. Now do you think palliative will solve the issue at hand? Who is getting the palliatives? Their party members. Nonesense

Damn!

The drug lord has already started cashing out big time. Format to cash out