On Thursday, the National Economic Council (NEC) meeting is currently being held in Council Chambers located in the State House in Abuja.
The Vice President, Kashim Shettima, is chairing the second meeting of the National Economic Council (NEC) at the Council Chambers in Abuja.
Present at the meeting are governors from all 36 states of the Federation, the Director General of the Nigerian Governors’ Forum, and representatives from the World Bank and other government agencies.
During this meeting, the attendees will discuss the revised palliative measures for Nigerians, which are being reconsidered after the removal of petrol subsidy and the recent increase in petrol prices to N617 per liter due to market forces.
To alleviate the impact of the fuel subsidy removal, President Bola Tinubu revealed a plan to provide a monthly N8,000 transfer for six months to 12 million of the country’s poorest households.
This initiative is part of a social safety net program, and it was outlined in a letter presented before the House of Representatives concerning the $800 million loan request from the previous Muhammadu Buhari administration.
Subsequently, due to criticisms raised by Organised Labour, President Bola Tinubu has directed a reevaluation of the initially proposed palliative measures.
During the upcoming NEC meeting on Thursday, the review of the President’s plan will be a prominent item on the agenda. The meeting will be held behind closed doors, with the media excused from attending.
Following the session, it is expected that the outcomes and resolutions from the meeting will be communicated to the media for public dissemination.
