Buhari proposes supplementary budget of N2.55trn to senate, for subsidy payments


Following the suspension of full deregulation of the downstream sector and hike in the price of fuel, President Muhammadu Buhari has requested an additional provision of N2.557 trillion for petrol subsidy payments in 2022.

The request was contained in the proposal for the amendment of the 2022 budget — submitted for consideration and approval by the national assembly — to accommodate the additional fuel subsidy funding.

The President’s letter was read on the floor by Senate President Ahmad Lawan on Wednesday.

The government had planned to stop subsidy payments on petroleum products in June as only the sum of N443 billion was allocated for fuel subsidy in the 2022 budget

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