•Fed Govt, states propose palliatives to cushion effects of petrol subsidy withdrawal’
Before the meeting, President Bola Tinubu, who inaugurated the NEC, charged its members to work with his administration to revive the economic fortunes of Nigeria and its citizens. Mohammed said NEC also discussed the possibility of obtaining funds from the World Bank and its London partners to implement the Federal Government’s Compressed Natural Gas programme as a strategy to reduce petrol costs.
“That of petroleum, they said, will range from N23.5 billion to N45 billion per month, depending on what is in the kitty for distribution or for sharing. Also on the committee are representatives of the Budget Office of the Federation, CBN, Office of the Attorney-General of the Federation, Nigerian National Petroleum Company Limited, Trade Union Congress and Nigeria Labour Congress .