In order to comply with President Bola Tinubu’s request, the House of Representatives has made adjustments to the 2022 supplementary appropriation act.
They agreed to take ₦500 billion out of the approved budget to aid Nigerians after the removal of the petrol subsidy.
After the president’s request, this adjustment was made quickly, passing the 2nd and 3rd readings in just one day.
Lawmakers cited the immediate necessity to mitigate the effects of the subsidy removal as the reason for the urgency.
Additionally, the lawmakers encouraged President Tinubu to handle the funds as responsibly as possible.
In a related development, President Tinubu has plans for the money: 12 million families are set to receive ₦8,000 over the course of six months. This measure is designed to lessen the hardships caused by subsidy removal.
President Tinubu described the financial assistance in a letter to the House of Representatives as a way for poor and vulnerable Nigerians to meet their fundamental necessities. The letter was read out by Speaker Tajudeen Abbas.
The letter requested approval for additional funding for the National Social Safety Net Program, a measure previously expanded by the National Assembly. The president said that this could benefit almost 60 million people.
To ensure a credible and impartial process, President Tinubu suggested that digital transactions be made directly into beneficiaries’ accounts.
Ada Peter
