BREAKING: FG gives ₦5bn subsidy palliative to each state, FCT

The Federal Government has announced that each state of the federation and the Federal Capital Territory (FCT) will receive ₦5 billion palliatives to help them cushion the impact of the fuel subsidy removal.

This decision was reached at the statutory meeting of the National Economic Council (NEC) chaired by Vice President Kashim Shettima in Abuja on Thursday, August 17, 2023.

Borno State Governor, Babagan Zulum announced the decision during an interactive session with State House correspondents.

Zulum also highlighted some of the issues that were discussed at the meeting.

According to the governor, the council also agreed that states that share borders with Niger Republic should be assisted with additional palliative materials to help them contain the influx of refugees from the politically troubled neighbouring country.

Membership of NEC includes the governors of the 36 states of the federation, Ministers of Federal Capital Territory (FCT) and Finance, Governor of the Central Bank of Nigeria (CBN), and Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL) among others.

Details later.......