NEC Meeting

 NEC DOLES OUT N5B NAIRA TO STATES AND FCT

The National Economic Council (NEC), rising from its meeting in the Federal Capital Territory presided over by the Vice President His Excellency Kashim Shettima, has given N5 billion naira to the 36 states government and the federal capital territory Abuja to cushion the effect of the removal of fuel subsidy on the citizens.

At a press briefing addressed by Governor Babagana Zulum of Borno state at the state house, he informed the Nigerian people that 52% of the funds has been earmarked as grants to the states, while 48% is to be repaid over a period of 20 months.

Speaking at the same event, the Governor of Kogi state informed the media that NEMA has been directed to provide relief materials including food and clothings to communities affected by flooding.

NEC also set up as committee to liaise with organized labour on the economic effects of the removal of fuel subsidy on the citizenry.