To mitigate the impact of the recent removal of fuel subsidies, the federal government has announced a N5 billion palliative for each state across the nation, including the federal capital territory (FCT).
The news was unveiled by Governor Babagana Zulum of Borno State during an interactive session with State House correspondents in Abuja on Thursday. This announcement came after the National Economic Council (NEC) meeting, which was chaired by Vice-President Kashim Shettima.
The National Economic Council (NEC) is composed of governors from all 36 states, Ministers of the Federal Capital Territory (FCT) and Finance, the Governor of the Central Bank of Nigeria (CBN), and the Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL), among other key stakeholders.
During the meeting, a range of issues was discussed, including the nation's financial status and more prominently, the deployment of palliatives aimed at alleviating the adverse effects of the fuel subsidy removal.
Distinguished governors who participated in the meeting included Abdulrahman Abdulrazak (Kwara), Hope Uzodinma (Imo), Inuwa Yahya (Gombe), Dauda Lawal (Zamfara), Dr. Alex Otti (Abia), Babajide Sanwo-Olu (Lagos), Ademola Adeleke (Osun), Senator Bala Mohammed (Bauchi), Senator Uba Sani (Kaduna), Sheriff Obrevwori (Delta), Prof. Charles Soludo (Anambra), Godwin Obaseki (Edo), Yahaya Bello (Kogi), Umaru Namadi (Jigawa), Umo Eno (Akwa Ibom), Prince Bassey Otu (Cross River), Lucky Aiyedatiwa (Acting Governor of Ondo State), Dapo Abiodun (Ogun), Ahmad Aliu (Sokoto), Agbu Kefas (Taraba), Abdullahi Sule (Nasarawa), Peter Mbah (Enugu), and Process Babagana Zulum (Borno).
The meeting also saw the participation of deputy governors from Katsina, Rivers, Yobe, Adamawa, Kano, and Kebbi.
This financial injection by the federal government aims to ease the transition and alleviate the challenges that might arise from the removal of fuel subsidies, a significant policy change with far-reaching implications for both the government and citizens.
