The National Economic Council (NEC) has formed a committee to study the National Salaries and Wages Commission’s suggestions to mitigate the impact of the elimination of the gasoline subsidy.
At its first meeting on Thursday, headed over by Vice President Kashim Shettima, the NEC stated the committee should consider the ₦702 billion recommended as a cost of living allowance to federal personnel to lessen the burden of subsidy removal.
Nasir Idris, governor of Kebbi, chairs the committee, which consists of governors from each geopolitical zone.
According to Bala Mohammed, governor of Bauchi, who briefed State House media after the meeting, the commission also proposed “a monthly offer of ₦23 billion or ₦25 billion to cushion the effect on workers.”
“The NEC had received recommendations on the various ways and means that the country can use whatever increases that we have in the revenue to mitigate the impact that this is going to make on the lives of our workers,” he said.
“And so they recommended that there should be a consequential adjustment, estimated at N702.92 billion as part of the allowances that should be given as petroleum allowance to all workers and as well as N23 or N25 billion monthly offer to cushion the effect on workers.
“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.
“We will sit within two weeks to come up with a recommendation to NEC for a holistic decision that will be taken immediately to alleviate the problem that is being encountered by the removal of the subsidy.”
Mohammed went on to say that the council had received further ideas to evaluate salaries and compensation.
