The National Economic Council (NEC) yesterday unveiled plans to provide relief measures for workers and vulnerable groups in Nigeria to cushion the effect of petroleum subsidies which has led to increased cost of living.
During its inaugural meeting under the current administration, chaired by Vice President Kashim Shettima at the presidential villa, NEC announced the formation of a committee tasked with developing a framework for organising and distributing relief measures within a two-week timeframe.
Bauchi State governor, Bala Mohammed, accompanied by four of his colleagues, disclosed that the council explored the possibility of securing funding from the World Bank and London partners to implement a Compressed Natural Gas (CNG) programme for vehicles.
The initiative, he noted, aims to reduce fuel prices in the country.
He said NEC deliberated on other recommendations, including the one by the organised labour for N702 billion consequential adjustment on allowances as well as the about N23 to N25 billion monthly they requested to cushion the effects of the subsidy removal.
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 said: “Specifically on the issue of national salaries, income and wages commission, NEC had received recommendations on the various ways and means that the country can use whatever increases that we have in the revenue to mitigate the impact that is going to make on the lives of our workers and all those people involved.
“And so, they recommended and they gave us a scenario recommending that there should be a consequential adjustment, estimated at N702,919.8 billion as part of the allowances that should be given as petroleum allowance to all workers and as well as a 23 or 25 billion monthly offer to cushion the effect on workers and others suggestion that will go a long way in making sure that there is review of our salaries and wages.”
The governor further revealed that the council looked at all the issues, including “the challenges and problems holistically and set up a small committee of council to review and come up with a term of reference to organized areas, specifically where these palliatives can come and how it will be dispensed to alleviate the problem of workers and other vulnerable groups.
“Members of the committee are composed of Governor if Kebbi as Chairman; Anambra representing the South East geopolitical zone; Benue governor, North Central; governor of Kaduna, Northwest; my humble self, Bauchi, representing the North East; governor Cross River, South South and Oyo State, South West.
“Other relevant agencies were also included. They comprised of a budget office, representative of the CBN, representative of the Office of the Attorney General of the Federation, representative of NNPC, representative of TUC and NLC and of course, Rukayat el-Rufai, so that we can sit within two weeks to come up with recommendation to NEC for a wholistic decision that will be taken immediately to alleviate the problem that may be encountered by the removal of the subsidy,” Mohammed stated
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