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The National Economic Council (NEC) is currently meeting at the Council Chamber of the State House behind closed door following the removal of fuel subsidy which has skyrocketed fuel prices across the country.
The meeting, which is chaired by the Vice President Kashim Shettima, has in attendance governors of the 36 states of the Federation, the Director General of the Nigerian Governors’ Forum, as well as stakeholders from the World Bank and other agencies of government.
This is second meeting of the Council and it is expected to deliberate on the reviewed palliative package for Nigerians following the removal of petrol subsidy and the recent hike in petrol prices to N617/litre and above as a result of market forces.
President Bola Tinubu had unveiled his administration’s plan for a monthly N8,000 transfer to 12 million of the poorest households in the country for six months, in a bid to cushion the effects of the removal of fuel subsidy but on Monday ordered its review.
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