On Thursday, the National Economic Council (NEC) is holding its second meeting at the Council Chambers in Abuja, chaired by Vice President Kashim Shettima.
Attendees include governors from all 36 states, the Director General of the Nigerian Governors’ Forum, and representatives from the World Bank and other government agencies.
The main focus of the meeting is to discuss revised palliative measures for Nigerians, in response to the removal of petrol subsidy and the recent increase in petrol prices to N617/litre due to market forces.
Previously, President Bola Tinubu proposed providing a monthly N8,000 transfer for six months to 12 million of the poorest households to offset the fuel subsidy removal. However, after criticism from Organised Labour, Tinubu ordered a review of the proposed palliative.
Among other issues, the review by the President will be a key topic on the NEC meeting’s agenda. The media is not present during the closed-door session, but resolutions and outcomes will be communicated afterward.
