The National Economic Council (NEC) has approved N5billion to each State of the Federal as palliative to cushion the effect of fuel subsidy removal.
The decision was taken at Thursday’s meeting of the Council presided over by Vice President Kashim Shettima and attended State governors and other statutory members of NEC at the State House, Abuja.
Recall that President Bola Tinubu had on May 29 in his inauguration address announced the end to fuel subsidy regime owing to inherent corruption in the scheme.
The Council, which is comprised of the governors of the 36 States of the federation, also has ministers in charge of the Federal Capital Territory (FCT) and Finance Ministries as well as the governor of the Central Bank of Nigeria (CBN), Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL) and some others as members.
Among governors, who attended the meeting were Abdulrahman Abdulrazak (Kwara), Hope Uzodinma (Imo), Inuwa Yahya (Gombe) Dauda Lawal (Zamfara), Dr. Alex Otti (Abia), Babajide Sanwo-Olu (Lagos) and Ademola Adeleke (Osun).
Others were Senator Bala Mohammed (Bauchi), Senator Uba Sani(Kaduna), Sheriff Obrevwori (Delta), Charles Soludo (Anambra), Godwin Obaseki (Edo), Yahaya Bello (Kogi), Umaru Namadi (Jigawa),
Also at the meeting were Governors Umo Eno (Akwa Ibom), Prince Bassey Otu (Cross River), Lucky Aiyedatiwa (Ondo State acting governor), Dapo Abiodun (Ogun), Ahmad Aliu (Sokoto), Agbu Kefas (Taraba), Abdullahi Sule (Nasarawa), Peter Mbah (Enugu), Process Babagana Zulum (Borno)
Deputy governors of Katsina, Rivers, Yobe, Adamawa, Kano, and Kebbi States also participated in the meeting.
