The National Economic Council (NEC) has sanctioned an allocation of N5 billion to each state in the Federal Republic as a palliative measure to mitigate the impact of the removal of fuel subsidy.
This resolution was reached during the Council’s session on Thursday, under the leadership of Vice President Kashim Shettima. The meeting, held at the State House in Abuja, was attended by state governors and other essential members of the NEC.
Recalling the announcement made by President Bola Tinubu during his inauguration speech on May 29, wherein he declared the discontinuation of the fuel subsidy regime due to its association with prevalent corruption.
The Council, comprising the governors from all 36 states, ministers overseeing the Federal Capital Territory (FCT) and Finance, the Central Bank of Nigeria (CBN) Governor, the Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL), and others, was present during the session.
Governors present at the meeting included Abdulrahman Abdulrazak (Kwara), Hope Uzodinma (Imo), Inuwa Yahya (Gombe), Dauda Lawal (Zamfara), Dr. Alex Otti (Abia), Babajide Sanwo-Olu (Lagos), and Ademola Adeleke (Osun), among others.
Moreover, the meeting saw the participation of Senator Bala Mohammed (Bauchi), Senator Uba Sani (Kaduna), Sheriff Obrevwori (Delta), Charles Soludo (Anambra), Godwin Obaseki (Edo), Yahaya Bello (Kogi), Umaru Namadi (Jigawa), Umo Eno (Akwa Ibom), Prince Bassey Otu (Cross River), Lucky Aiyedatiyedatiwa (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).
Additionally, deputy governors from Katsina, Rivers, Yobe, Adamawa, Kano, and Kebbi states also participated in the meeting.
