The National Executive Council (NEC) has decided on palliative measures for Nigerians in response to the elimination of the gasoline subsidy and the recent increase in gasoline prices to up to N617/liter.
At a meeting convened on Thursday in the Council Chambers of the State House in Abuja, a decision was made.
Governors from the 36 states that make up the Federal Republic of Nigeria, the Director General of the Nigerian Governors’ Forum, representatives from the World Bank, and other government stakeholders attended the meeting, which was presided over by Vice President Kashim Shettima.
Cash transfers would be carried out via state social registers according to state peculiarities, and NEC also explored integrity checks on state social registers.
Government representatives were urged to lower the cost of governance in their various areas during the meeting. This is happening at the same time as the federal government started a six-month cash award policy for public employees.
States are asked to intensify their energy transition plans for the transportation sector. State governments are required to distribute food goods, cereals, and fertilizers at the pace they purchase from the National Emergency Management Agency (NEMA).
In its second meeting, the Council will likely discuss the revised palliative package for Nigerians in light of the elimination of the fuel subsidy and the increase in fuel price.
To mitigate the consequences of the elimination of the gasoline subsidy, President Bola Tinubu presented his administration’s plan for a monthly N8,000 transfer to 12 million of the poorest households in the nation for six months.
The strategy was outlined in a letter that was read aloud last Thursday on the House of Representatives floor in response to the previous Muhammadu Buhari administration’s request for a $800 million loan for a social safety net program.
Days after the announcement, however, the Federal Government declared that it will reconsider the action in light of the negative response it received from Nigerians.
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