President Muhammadu Buhari has written the Senate, seeking for the approval of a supplementary budget which contains N2.557trn.
POLITICS NIGERIA reports that the fund is meant to provide for subsidy on petroleum products from June to December 2022.
President Buhari’s letter was read on Tuesday during plenary by the President of the Senate, Senator Ahmad Lawan.
The amount approved for subsidy on Petroleum products from January to June was N443 billion and with the present request, the total amount stands at N3 trillion.
Buhari has also written the Senate, seeking for a review of the Finance Bill 2021 (now Finance Act 2021).
The Finance Act 2021, which was recently signed into law by President Buhari, introduces significant changes to a number of tax and regulatory laws in Nigeria.
The Act amends several provisions of Nigeria’s key tax legislation, including the Capital Gains Tax Act, Companies Income Tax Act, Personal Income Tax Act, Tertiary Education Trust Fund Act among others.
