x

NEC Asks Nigerians To Wait Till June For Decision On Fuel Subsidy

The National Economic Council (NEC) has asked Nigerians to wait till June for a decision to be reached on the removal of fuel subsidy.

Nasarawa State Governor, Abdullahi Sule, said this while briefing the press at the end of the first NEC meeting for 2022 held in Abuja on Thursday.

“We did not make any presentation on this because there has not been a decision. But in reality, all of us, Nigerians, know that there is now the Petroleum Industry Act (PIA) and NNPC has now become a limited liability company,” the governor said after the 122nd NEC meeting.

“So, NNPC will run differently. So, if the Ministry of Finance provides for six months, you probably can understand part of the reasons for the provision of six months is before NNPC fully takes off and at that moment, that’s when decisions would be made.”

Governor Godwin Obaseki of Edo State, who also spoke after the meeting, noted that N2.1 trillion was spent last year on fuel subsidy payments. The payments, he said, could have been used to fund other development efforts.

“Because of payment of subsidy, NNPC was unable to put that money into FAAC for distribution, which means less money going to the states and less money going to the federal government,” Obaseki added.

The NEC meeting was chaired by Vice President Yemi Osinbajo and attended physically by state governors, government officials as well as officials of the World Bank.

Also on the agenda was the launch of the Nigeria COVID-19 Action Recovery and Economic Stimulus programme (NGCARES).

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Abuja: Maikalangu Emerges APC Flagbearer for AMAC Chairmanship Election With 51 Votes

….Minister Jisalo Congratulates Maikalangu, Urges Support for Party Flagbearer The...

NTAC Director-General Receives Honorary Doctoral Fellowship for Excellence in Leadership

By Jabiru Hassan The Director-General of the Nigerian Technical Aid...

Sokoto L-PRES Trains Livestock Stakeholders on Antimicrobial Resistance

By Muhammad Ibrahim, Sokoto The Livestock Productivity and Resilience Support...

Uba Sani Condemns Killing of 12 Travellers, Urges Respect for Freedom of Movement

By Achadu Gabriel, Kaduna Governor Uba Sani of Kaduna State...

Gunmen Kill Police Inspector, Seize Rifle in Plateau

By Israel Adamu, Jos Gunmen suspected to be herders have...

Lagos Government Urges Property Owners to Renovate Building Exteriors

The Lagos State Government has called on property owners...
spot_img

Related Articles

Popular Categories

spot_imgspot_img