• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Fuel subsidy: House of Reps hurriedly approves Tinubu’s N500 billion request for palliatives

Ngozi Ekugo by Ngozi Ekugo
July 13, 2023
in Business News, Economy
House of Reps hurriedly approves Tinubu's N500 billion request for palliatives
Share on FacebookShare on TwitterShare on Linkedin

The House of Representatives has passed an amendment to the Supplementary Appropriation Act of 2022.

Nairametrics gathers that this amendment went through three readings during a plenary session on Wednesday even as President Bola Tinubu had urged the lawmakers to approve N500 billion from the 2022 Supplementary Appropriation Act.

According to the president, this was necessary to support the government’s efforts in providing relief measures for Nigerians even as the president explained that he was conscious of the efforts to revive the economy, especially the removal of fuel subsidies.

RelatedStories

Under Tinubu, a blueprint for Nigeria’s consumer credit economy is quietly unfolding 

‘The era of pit to port must end’ – Tinubu tells West African leaders at WAES2025 

June 21, 2025
Tinubu commissions 37km Lekki Deep Seaport Access Road section built by Dangote 

Tinubu lauds Dangote refinery, says it’s “a great phenomenon of our time” in Nigeria 

June 6, 2025

What he said

President Bola Tinubu had earlier defended his decision to eliminate the petrol subsidy and subsequently requested an amendment to the Act.

In a letter addressed to the Speaker of the House, Abbas Tajudeen, the president explained saying:

  • “Thus, the sum of N500 billion has been extracted from the 2022 supplementary appropriation act of N819.536 billion for the provisions of palliatives to cushion the effects of subsidy removal. I seek the expeditious consideration of this request.”

The president, who stated this yesterday when he received in audience members of the Class of 1999 Governors, assured Nigerians that the framework for palliatives to remedy the effects of fuel subsidy removal was being worked out.

He canvassed for more patience from Nigerians, as the government speeds up the process and ensures a full-proof social security structure that will not be compromised, especially in cash transfers.

He said:

  • “I understand that our people are suffering yet there can be no childbirth without pain. The joy of childbirth is the relief that comes after the pain. Nigeria is reborn already with fuel subsidy removal. It is a rebirth of the country for the largest number over a few smugglers. Please tell the people to be a little patient”.
  • “The palliative is coming. I don’t want cash transfer to fall into the wrong hands. I know it pinches and it is difficult. In the end, we will rejoice in the prosperity of our country”.
  • “We served as governors and sat in this Council Chamber. All I wanted was democracy and the salvation of the country”.

Follow us for Breaking News and Market Intelligence.
Tags: House of RepsPalliativesPresident Bola Tinubu
Ngozi Ekugo

Ngozi Ekugo

A high-performing labour market analyst/ talent acquisition specialist providing research on labor availability, labour migration, workplace trends and career development opportunities. Having worked across various sectors such as the recruitment, consulting, investment banking (Goldman Sachs) and the media, both in Nigeria and the United Kingdom, I possess a unique blend of competencies and experience to thrive in any industry.

Related Posts

Under Tinubu, a blueprint for Nigeria’s consumer credit economy is quietly unfolding 
Business News

‘The era of pit to port must end’ – Tinubu tells West African leaders at WAES2025 

June 21, 2025
Tinubu commissions 37km Lekki Deep Seaport Access Road section built by Dangote 
Business News

Tinubu lauds Dangote refinery, says it’s “a great phenomenon of our time” in Nigeria 

June 6, 2025
Tinubu names Dangote, Otedola, Ovia, Abdulsamad as 4 wisemen of Nigeria’s economy 
Business News

Tinubu names Dangote, Otedola, Ovia, Abdulsamad as 4 wisemen of Nigeria’s economy 

June 6, 2025
FG engages Japan for $110 million food security loan 
Agriculture

FG engages Japan for $110 million food security loan 

June 5, 2025
Presidency: Nigeria’s 209 trillion cubic feet of gas positioned for energy transition 
Energy

Presidency: Nigeria’s 209 trillion cubic feet of gas positioned for energy transition 

June 1, 2025
Tinubu commissions 30km Section 1 of Lagos-Calabar Coastal Highway from Ahmadu Bello Way to Eleko 
Real Estate and Construction

Tinubu commissions 30km Section 1 of Lagos-Calabar Coastal Highway from Ahmadu Bello Way to Eleko 

May 31, 2025
Next Post
Crude oil prices, NUPRC

Nigeria’s crude oil production rises to 1.48mbpd in June

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Ekiti State opens job applications for Agro-Allied International Cargo Airport operations 
  • Nigeria Immigration Service receives tech tools from Dutch Government to boost migration control 
  • Most expensive African countries to rent a home in 2025 

Follow us on social media:

Recent News

Ekiti State opens job applications for Agro-Allied International Cargo Airport operations 

Ekiti State opens job applications for Agro-Allied International Cargo Airport operations 

June 24, 2025
Nigeria Immigration Service receives tech tools from Dutch Government to boost migration control 

Nigeria Immigration Service receives tech tools from Dutch Government to boost migration control 

June 24, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics