CURRENT REPORTS BLOG: In the wake of the petrol subsidy removal and the subsequent increase in petrol prices up to N617/litre, the National Executive Council (NEC) of Nigeria has taken significant steps to implement palliative measures for the welfare of the Nigerian people. In a recent meeting chaired by Vice President Kashim Shettima, state governors, representatives from the Nigerian Governors’ Forum, and stakeholders from the World Bank and government agencies came together to deliberate on crucial initiatives. CURRENT REPORTS BLOG discuss decisions made during the meeting and the measures taken to address the impact of the subsidy removal.
Decisions Made at the NEC Meeting:
1) Integrity Tests on State Social Registers: The government will conduct integrity tests on state social registers to ensure targeted and efficient distribution of cash transfers to beneficiaries.
2) Cash Transfers via State Social Registers: Cash transfers will be disbursed through state social registers, taking into account each state’s unique circumstances.
3) Reducing Cost of Governance: Government officials were urged to reduce the cost of governance in their respective spheres to maximize resources for essential welfare programs.
3) Six-Month Cash Award Policy: The Federal Government initiated a six-month cash award policy for public servants, aimed at providing additional financial support.
4) Food Items and Fertilizers Distribution: State governments will distribute food items and fertilizers acquired from the National Emergency Management Agency (NEMA) to alleviate the impact of rising prices.
5) Energy Transition Plans: States are encouraged to prioritize energy transition plans in the transport sector, contributing to long-term sustainability and efficiency.
Reviewing Palliative Package:
This marks the second meeting of the Council, which aims to address the reviewed palliative package for Nigerians following the subsidy removal and petrol price hike. President Bola Tinubu had previously announced a monthly N8,000 transfer to 12 million of the poorest households for six months. However, due to public backlash, the Federal Government is reevaluating the move to ensure an effective and fair approach.
