President
Conversely, farmers who suffered the devastating 2022 floods across the country, will be getting N19 billion.
These are contained in the bill considered by the
A breakdown and details of the allocation are contained in a document obtained by PREMIUM TIMES.
PREMIUM
In the letter to the lawmakers, he requested the extraction of N500 billion out of the N819 billion supplementary budget to fund the palliatives to mitigate the impact of petroleum subsidy removal.
Details of the bill
-N500 billion for palliatives and other capital expenditures to cushion the effect of the recent subsidy removal policy;
- N185,236,937,815 to the
-N19,200,000,000 to the
-N35 billion to the
- N10 billion to the
-N70 billion to the
It is, however, not clear if the N70 billion is part of the N281 billion provided in the 2023 budget for the
About 70 per cent of the 460-member federal legislature are new. https://www.premiumtimesng.com/news/top-news/600609-70-per-cent-of-national-assembly-members-lost-reelection-lawan-laments.html
Meanwhile, amidst the dire economic situation in the country, this paper reported that the federal lawmakers are demanding an upward review of their salaries and allowances to offset the impact of removal of fuel subsidy.
2022 flooding and Nigerian farmers
In 2022, not less than 500 people died across the country as a result of floods, while 76,168 hectares of farmlands were partially destroyed, and 70,566 hectares of farmlands completely destroyed.
Former President
The government also allocated N704 billion to the
The new amendment, if passed and signed, will reduce the allocation to the farmers.
Fuel subsidy removal
Following the announcement, the Nigerian
While the administration has been commended for taking swift action on petroleum subsidy, there are still concerns about the impact of the removal, especially as it relates to the increase in the price of petrol and its multiplier effect on almost every sector of the country's economy and impoverished households.
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