FG, govs discuss packages to cushion fuel price hike

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Nigerians can well expect the implementation of the palliatives package soon as President Bola Tinubu and Vice President Kasshim Shettima met with President of the Senate, Senator Godswill Akpabio and some state governors on agreement on top national issues, including efforts to cushion the effects of the petrol subsidy removal on Nigerians.

The President has continued consultations with key players on how to get the economy moving.

The meeting was held in the office of the President at the State House, Abuja, and was attended by some state governors, including those of Imo (Senator Hope Uzodinma), Kwara (AbdulRahman AbdulRazaq), Lagos (Babajide Sanwo-Olu) and Ogun (Prince Dapo Abiodun).

Former governor Abdullahi Ganduje of Kano State was also part of the meeting.

Shettima and the three governors thereafter relocated to the Vice President’s wing of the State House for another round of meeting at the Conference room. They were later joined by Governor Umar Bago of Niger State.

Presidential Adviser on Special Duties, Communications and Strategy, Mr. Dele Alake, confirmed that the meeting with the president also looked at how to finalise arrangement on the distribution of palliatives to cushion the effect of the fuel subsidy removal.

Also, Governor Uzodinma stressed that the current hardship occasioned by the price on petroleum products, food and cost of living was being addressed.

According to him, the sub-national governments are working with the Federal Government and today there would be a National Economic Council to discuss further on that as we dot the i’s and cross the t’s.

The Presidency had on Tuesday evening directed the distribution of grains and fertilizers to 50 million farmers across the country, also as part of measures to boost food security in the country.

However, the National Economic Council (NEC), is expected to hold its monthly meeting in Abuja, today, to fine-tune the palliatives package.

The NEC, which is a constitutional advisory economic body of the Federal Government, is meeting for the second time since President Tinubu assumed office on May 29, 2023, with Vice President Shettima presiding.

The meeting, billed to hold at the Banquet Hall of the State House, with all the 36 state governor’s in attendance, would also consider the palliatives being proposed by Federal Government to cushion the effect of the fuel subsidy removal on Nigerians.

This was just as the House of Representatives yesterday summoned the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, alongside independent petrol marketers over petrol pump price increase from N537 to N617 per litre in Abuja.

Consequently, the House set up an ad-hoc committee to investigate circumstances leading to the latest price increase by the NNPC and the marketers as well as the proposed palliative measures to be taken to ameliorate the sufferings of Nigerians and report back to the green chamber within four weeks for further legislative action.

The resolutions of the House of Representatives followed the adoption of a motion on the urgent need to investigate the arbitrary increase of Petrol Pump Price from N537 to N617 by petrol marketers and the NNPC moved by Hon. Ikeagwuonu Onyinye Ugochinyere, at plenary.

Ugochinyere, while presenting the motion noted that section 88 (1) and (2) of the constitution of the Federal Republic of Nigeria, 1999 (As Amended) empowers the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.

He said Section 32 of the Petroleum Industry Act. 2021, saddles the Petroleum Midstream and Downstream Regulatory Authority with the task of regulating and monitoring technical and commercial midstream and downstream petroleum operations in Nigeria.

He further informed the House that on Tuesday 18″ July, 2023 petrol pump Price was increased from N537 to N617, by petrol marketers, without conferring with the relevant agencies of government.

“In view of the current socio-economic challenges being faced by Nigerians, a hike in the price of fuel will heap great suffering and hardship on Nigerians,” he added.

The House thereby resolved to constitute an Adhoc committee whose membership would be drawn from across the 36 states of the Federation to prove into the issue accordingly.