House Of Rep Approves President Tinubu’s Request For 500 Billion Naira Palliative Fund

The House of Representatives has made adjustments to the 2022 supplementary appropriation act to accommodate President Bola Tinubu’s request.

They have approved sourcing 500 billion naira from the approved budget to help Nigerians in the wake of the petrol subsidy removal.

This change happened swiftly, only a day after the president’s request, passing the 2nd and 3rd readings rapidly.

Lawmakers explained the urgency was due to the immediate need to alleviate the impacts of the subsidy removal.

The legislators also urged President Tinubu to use the funds as conscientiously 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.

In a letter to the House of Representatives, read out by Speaker Tajudeen Abbas, President Tinubu described the financial assistance as a means for poor and vulnerable Nigerians to meet basic needs.

The letter requested approval for additional funding for the National Social Safety Net Program, a measure previously expanded by the National Assembly. The president suggested that this could positively impact around 60 million people.

President Tinubu recommended that digital transfers be made directly into beneficiaries’ accounts, ensuring a credible and fair process.