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Fuel Subsidy: President Buhari Pressures Senate on N2.557trn Approval

Regarding the fuel subsidy addittional funding, Muhammadu Buhari, President of the Federal Republic of Nigeria, has requested that the Nigerian Senate approve N2.557 trillion.

The approval for an additional fund is for the year 2022 and was forwarded via a letter dated February 10, and was presented on the floor of the Senate while their plenary was ongoing yesterday.

The session, as usual, was coordinated by Senate President, Ahmad Lawan, as they attempted to amend the 2022 Appropriation Act passed by the National Assembly in December, 2021.

Fuel Subsidy

The letter forwarded by Mr President stressed the importance of on why the fund for the subsidy is needed and how it could be attained if they consider removing all capital projects duplicated in the 2022 Appropriation Act.

The President pointed out that so far, from thorough study of the Act, that there are one hundred and thirty-nine projects out of two hundred and fifty-four projects amounting to N13.24 billion which needs immediate removal.

The president, hence, requested that the National Assembly amend the Appropriation Act to provide for capital expenditures in the sum of N106,161,499,052, and N43,870,592,044 for recurrent expenditures.

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