FG proposes N2.557tn for fuel subsidy

President Buhari has earmarked the sum of N2.557 trillion for fuel subsidy in the amended 2022 budget proposal sent to the National Assembly

The amendment proposal is contained in a six-page letter sent to the House on Tuesday.

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.

In the letter, President Muhammadu Buhari said the amendment is necessary to accommodate some issues in the country including Petroleum Subsidy which must be considered.

He is also asking the National Assembly to review the Finance Act 2021.

Accordingly, President Muhammadu Buhari in the letter said it was imperative to remove all capital projects that were replicated on the 2022 Appropriation Act.

Source: FG proposes N2.557tn for fuel subsidy – StocksWatch (stocksng.com)

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