President Muhammadu Buhari has written a letter to the National Assembly, seeking the consideration and approval of a supplementary budget for fuel subsidy.
It was gathered that Senate President Ahmed Lawan made the content of the President’s letter known on the floor of the Senate during Tuesday plenary.
The President wants the legislature to approve the budget which contains N2.557trn meant to provide for fuel subsidy from June to December 2022.
Buhari said the amount approved for fuel subsidy from January to June was N443 billion and with the present request, the total amount stands at N3 trillion.
He said N106billion provided in the supplementary budget would be used as capital expenditure, while N43.87billion would be spent on recurrent expenditures.
In another letter to the Senate, Lawan said Buhari seeks a review of the Finance Act 2021.
Details shortly…
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