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Tuesday, September 27, 2022

BREAKING: Buhari writes Senate, to spend N2.55trn on Subsidy

President Muhammadu Buhari has  budgeted N2.55trillion for fuel subsidy in the 2022 Supplementary Appropriation Bill transmitted to the National Assembly for consideration and approval.

The Federal Government had informed the subsidy regime will end in June 2022.

A statement which has generated a lot of reactions, and threatened protests from labour unions

Details later

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Fuel queues appeared since last week across the nation over rising import costs of the product. President Ahmad Lawan. Buhari said while N106billion provided in the Supplementary Bill would be used as capital expenditure, N43.87billion would be spent on recurrent expenditures.

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