Buhari Writes Senate, Seeks Approval Of ₦2.557trn Supplementary Budget

President Muhammadu Buhari has written a letter to the National Assembly, seeking the consideration and approval of ₦2.557trn supplementary budget for fuel subsidy.

Naija News reports that Senate President Ahmed Lawan made the content of the President’s letter known on the floor of the Senate during Tuesday plenary.

The President wants the legislature to approve the budget which contains ₦2.557trn meant to provide for fuel subsidy from June to December 2022.

Buhari said the amount approved for fuel subsidy from January to June was ₦443 billion and with the present request, the total amount stands at ₦3 trillion.

He said ₦106billion provided in the supplementary budget would be used as capital expenditure, while ₦43.87billion would be spent on recurrent expenditures.

In another letter to the Senate, Lawan said Buhari seeks a review of the Finance Act 2021.

More to come…