The National Economic Council (NEC) yesterday considered two forms of palliatives for workers and vulnerable persons to cushion the effects of petrol subsidy removal.
The proposals are “living cost allowance” of over N702 billion and “petroleum allowance” ranging from N23.5 billion to N45 billion per month.
allowances that they have suggested.
“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.
“So, the N702 billion is a suggested sum for Labour to cushion the effect on workers on a new allowance that will be tagged ‘cost of living adjustment allowance’.
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“The council looked at all the issues, including the challenges and problems holistically and then set up a small committee of the council to review and come up with a term of reference to organised areas, specifically where these palliatives can come and how they will be dispensed to alleviate the problems of workers and other vulnerable groups.”
The committee comprises the Governor of Kebbi as chairman; Charles Soludo (Anambra) representing Southeast; Hycinth Alia (Benue) representing Northcentral; Uba Sani (Kaduna) representing Northwest; Mohammed, representing Northeast; Bassey Otu (Cross River), representing Southsouth and Seyi Makinde (Oyo) representing the Southwest.
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 (TUC) and Nigeria Labour Congress (NLC).
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