FG Designates N2.55tr For Subsidy In Supplementary Budget

President Muhammadu Buhari on Tuesday earmarked 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.

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Fuel queues appeared since last week across the nation over rising import costs of the product.

But Buhari’s letter for the subsidy provision was read on the floor by Senate 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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