Buhari Transmits N2.557trn Supplementary Budget To National Assembly

News - by RadioNowIT / Feb. 15th, 2022

President Muhammadu Buhari has written to the National Assembly for a fresh review of the 2022 Appropriation Act.

This was contained in a letter addressed to the Senate President, Ahmad Lawan and Speaker, House of Representatives, Femi Gbajabiamila.

The review of the budget was sequel to the suspension of the Petroleum Industry Act (PIA), which seeks stoppage of petroleum subsidy funding through full deregulation of the industry.

The president is asking the parliament for approval of N2.557trn supplementary budget to provide for subsidy on petroleum products from July to December 2022.

In the 2022 approved budget, the sum of N443bn was provided for petroleum subsidy from January to June 2022.

The President is also asking the lawmakers to review the Finance Act 2021.

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