Fuel subsidy: FG has not yet coordinated conversations on palliative measures, according to Agba

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Barely three and half months to the June deadline for the discontinuation of petrol subsidy, the Federal Government, yesterday, said it was yet to harmonise positions of various interest groups on palliative measures for citizens.

The government had informed of plans to end subsidy regime in the second half of the year after earmarking N3.35 trillion on petrol subsidies from January till June 2023, under its 2022 to 2023 Medium-Term Expenditure Framework.

The government also promised it would set in place palliatives to ameliorate the impact on the poor and most vulnerable in the society once it hands off fuel subsidy……continue Reading 

Minister of State for Budget and National Planning, Clem Agba, who addressed State House Correspondents after the Federal Executive Council (FEC), said the committee headed by Vice President Yemi Osinbajo had been working with the National Economic Council (NEC), a body comprising governors of the 36 states and the Federal Capital Territory( FCT) and relevant ministries, on the palliatives.

Agba, however, said the committee was yet to harmonise suggestions on the nature of the palliatives.

“For over a year plus now, the Vice President, Yemi Osinbajo, has been leading a committee working on this, and the National Economic Council also has a committee that has also been working on this. So, the stage that we are in now is how to finalise the suggestions that have come out from both the Federal Government and the governors. Like you know, it is something that is going to affect the entire nation. They will just have to ensure that everyone is carried along, that is both the federal and sub-national governments.The Minister of State, Petroleum Resources will be in a position provide more updates,” he said.

At yesterday’s meeting, the council also approved the Nigeria Agenda 2050, which is a perspective plan designed to transform the country into an “Upper-Middle Income Country” with a significant improvement in per capita income.

The plan aims to fully engage all resources, reduce poverty, achieve social and economic stability.

Agba explained that the Nigeria Agenda 2050 projects annual average real GDP growth of 7.0 per cent.

Council also approved N15 billion for the award of contract for the construction of access road from the existing Benin-Asaba expressway to approach Link Road to second Niger Bridge in Delta state.

Minister of Information, Lai Mohammed, who briefed on behalf of his counterpart in the Works and Housing Ministry, said council approved N9 billion as revised estimated total cost of contract for the Phase 1 dualisation of the Suleja- Minna road in Niger State.

He said N8 billion was also approved for the construction of Jatu Dam in Etsako West Local Government area of Edo State to provide potable water and all year-round water for farming by the community. He said the Edo State government would provide N2 billion as 25per cent counterpart funding for the project………continue Reading

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