NEC considers payment of allowance as palliatives for subsidy removal

The National Economic Council (NEC) after its inaugural meeting on Thursday, chaired by Vice President Kashim Shettima, announced that it would set up a committee to work out the modalities for organizing and distributing the palliatives to cushion the effect of fuel subsidy removal.

Members of the committee comprise the Governor of Kebbi, the Governor of Benue for North Central; the Governor of Kaduna, Northwest; Bauchi, representing the North East; the Governor of Cross River, South-South; Anambra representing the South East geopolitical zone and Oyo State for the South West.

Speaking to the media regarding the palliatives, the Governor of Bauchi State, Bala Mohammed, said the Council also discussed the possibility of obtaining funds from the World Bank and London partners to implement a Compressed Natural Gas (CNG) programme for vehicles in the country as part of measures to cushion the impact of fuel subsidy removal.

He said the Council deliberated on other recommendations including the one by the organized labour for N702.9 billion consequential adjustment on allowances as well as no less than N25 billion naira per month, which they requested to cushion the effects of the subsidy removal.

While noting that NEC took very far-reaching decisions and deliberations on the issue of the removal of petroleum subsidy and its general impact on the economy, Mohammed noted that NEC had received recommendations on the issue of the National Salaries, Income, and Wages Commission to help the situation.