×
  • Oil & Gas - News
  • Updated: June 16, 2023

Fuel Subsidy: NEC Considering Salaries, Natural Gas As Palliative Solutions

Fuel Subsidy: NEC Considering Salaries, Natural Gas As Palli

The National Economic Council (NEC) said on Thursday in Abuja that it was considering recommendations from the National Salaries, Income, and Wages Commission to pay N702 billion as a cost of living allowance to civil servants as part of intervention plans to mitigate the effects of the discontinuance of fuel subsidies, which was announced on May 29, 2023.

Bala Mohammed, the Governor of Bauchi State, revealed this to State House media shortly after the inaugural National Economic Council meeting on Thursday at the Aso Rock Presidential Villa.

Mohammed further stated that the intervention includes a proposed monthly petroleum stipend for public personnel ranging from N23.5bn to N45bn.

The statement came just two weeks after President Bola Tinubu instructed governors to put in place different palliative institutions to alleviate the suffering caused by the discontinuation of petrol subsidies.

"The NEC had received recommendations on the various ways and means that the country can use whatever increases in revenue that we have to mitigate the impact that this is going to have on the lives of our workers," he said.

“And so they recommended that there should be a consequential adjustment, estimated at N702.92bn as part of the allowances that should be given as petroleum allowance to all workers and as well as a N23bn or N25bn monthly offer to cushion the effect on workers.”

According to the returning governor, the council received further ideas to assess salaries and compensation.

“In addition to the palliative, the government looked at all the issues, challenges and problems holistically and set up a small committee of the council to review and come up with a term of reference to organise areas specifically where this palliative can come from and how it will be dispensed to alleviate the problem of workers and other vulnerable groups,” Mohammed explained.

The chairman of the committee was the Governor of Kebbi State; Anambra represented the South-East geopolitical zone; Benue, North-Central; Kaduna, North-West; Cross River, South-South; Oyo, South-West; and Bauchi, North-East.

The Budget Office, representatives from the Central Bank of Nigeria, the Office of the Attorney-General of the Federation, Nigerian National Petroleum Company Limited, Trade Union Congress of Nigeria and the Nigeria Labour Congress, and Rukayat El-Rufai are also members of the committee.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings