A six-page amendment letter stipulating the sum of N2.557 trillion for fuel subsidy was sent to the respective legislative diets on Tuesday.
Speaker of the House of Representatives, Femi Gbajabiamila, and Sente President Ahmad Lawan announced transmission of the Federal Government’s supplementary budget at their respective chambers during plenaries.
In the letter, President Buhari is asking the National Assembly to approve the sum of N2.557 trillion supplementary budget for petrol subsidy from July to December 2022. Recall that the amount approved for subsidizing petroleum products from January to June was N443 billion and with the current request, the total amount stands at N3 trillion.
The Senate in December passed the 2022 budget of N17.126 trillion, bumping the appropriation bill by N735,8 billion.
President Buhari in his letter opines that the amendment is necessary to accommodate some issues in the country. This includes the Petroleum Subsidy, which must be taken into account. He also asked the National Assembly to review the Finance Act 2021 and to remove all capital projects that were duplicated in the 2022 Appropriation Act.
Recall that the Senate in December passed the 2022 budget of N17.126 trillion, jerking the appropriation bill by N735.8 billion.
President Muhammadu Buhari, during the signing of the 2022 Appropriation Bill of N17.126 trillion into law on December 31, expressed displeasure with some changes as well as major additions and reductions made by the National Assembly in critical projects ‘without justification’.
He however, said that as soon as the National Assembly return from their recess, he would revert back to them with a request for an amendment, to ensure that critical