Removal of fuel subsidy: Tinubu seeks NASS approval for N500bn worth of palliatives

…Seeks amendment of 2022 supplementary budget

…I am aware of your pains — President Tinubu

…House to deliberate on request today — Abass

By Moses Adeniyi

As part of the measures to cushion the adverse effect of the discontinuation of payment of subsidy on Premium Motor Spirit (PMS), popularly called petrol, President Bola Tinubu is seeking approval from the National Assembly (NASS) the sum of N500billion for palliative measures.

This move follows several calls for palliative measures to be put in place by organisations such as the United Nations, Lagos Chambers of Commerce and Industry (LCCI), Nigeria Labour Congress (NLC) and other stakeholders to President Tinubu.

The President yesterday wrote to the House of Representatives, requesting the approval of N500 billion to cushion the effects of fuel subsidy removal.

Consequently, the President who is demanding a speedy consideration of the request, is seeking the amendment of the 2022 supplementary appropriation act to accommodate the funds.

House to deliberate on request today — Abass

In line with the demand of the President requesting speedy consideration, the Speaker of the House of Representatives, Rt.Hon Tajudeen Abbas said on Wednesday that the House will consider the President’s request at plenary on Thursday after reading the letter containing the President’s request during Wednesday’s plenary.

The letter titled, “Request for the amendment of the 2022 appropriation act,” reads in part: “I write to request the approval of the House of Representatives an amendment of the 2022 appropriation act in accordance with the law.

“The request has become necessary in other to source funds to provide necessary palliatives to cushion the effect of the recent removal of fuel subsidy in Nigeria.

“The sum of N500 billion only has been extracted from the 2022 appropriation act of N819.536 for the provision of palliatives to Nigerians to cushion the effect of fuel subsidy removal. I expect that the House will speedily consider the request.”

I am aware of your pains — President Tinubu

Meanwhile, President Tinubu has appealed to Nigerians to wait patiently for the gains of the removal of subsidy, promising to come up with palliatives that will put smiles on the faces of the majority.

President Tinubu who admitted that he is aware that Nigerians are suffering from the impacts of the removal of petrol subsidy, assured that the savings from the new terms will benefit the greater number of Nigerians against the few he described as “smugglers and exploiters.”

The President, who made the promise in a meeting with the Class of 1999 Governors at the Presidential Villa, Abuja, said, “On the subsidy removal thank you for the support. And I understand people are suffering. Yet, there can be no childbirth without pain.

“The joy of childbirth is the big relief of the pain. Nigeria is reborn. It is a rebirth of our Country to face our problem, to bring the savings to benefit the largest number of people in the Country and not a few smugglers and exploiters. Thank you for your support.”

Recall that President Tinubu following the outcry which trailed the announcement of the removal of subsidy on PMS on May 29, 2023,   mitigate the impact of subsidy removal on Nigerians, had on Wednesday 07 June, directed the National Ecomomic Council (NEC) led by the Vice President, Kashim Shettima to begin the process of providing palliatives to cushion the impacts of the removal of subsidy which informed astronomic hike in the pump price of fuel.

Tinubu had given the directive when he met with some major oil marketers led by Ogun State governor, Dapo Abiodun at the State House in Abuja.

In a further development, the National Economic Council (NEC) in mid June, as part of its first deliberations upon inauguration, in Abuja, said it considered recommendations from the National Salaries Income and Wages Commission to pay N702billion as cost of living allowance to civil servants as part of intervention plans to mitigate the effects of the removal of subsidy on petroleum.

President Tinubu had earlier directed State Governors to concretise various palliative measures to ease the attendant hardship from the petrol subsidy removal.

Tinubu in an effort to justify the removal of subsidy in the aftermath of his decision declared in his inaugural speech on May 29 had stated that “subsidy is an elephant that was going to bring Nigeria to its knees.”

“I am grateful that you are paying attention to what I have been doing.

“You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas?

“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have potential to encourage ourselves.

“I think we did the right thing. We are all ears. We are ready to listen at any given time. I promise you an open-door policy and that is the way I will go. That open door policy is for you to call me and send to me at any given time any concern that you might have.

“We may not have it right 100 per cent of the time but we must get it right 90 percent of the time for this country,” Tinubu had said in June at a meeting with the National Council of Traditional Rulers of Nigeria (NCTRN) at Aso Rock,” He said.