The outcome of the National Economic Council (NEC) meeting held on Thursday, July 20, 2023, was released by Ogun State Governor Dapo Abiodun.
According to News About Nigeria, the NEC met yesterday to discuss matters related to Nigerians’ complaints over the recent rise in the price of fuel at the pump as a result of the federal government’s elimination of the fuel subsidy.
Governor Abiodun released the conclusion of the meeting, which took place on Thursday at the Council Chambers of the State House in Abuja, saying that the Council approved palliative measures.
He says that NEC executives decided to use cash transfers based on state social registries and the unique characteristics of each state during the meeting chaired by Vice President Kashim Shettima.
The governor also said that because fuel had been deregulated, the increase in fuel prices was not the result of federal government action but rather a result of market forces.
According to Abiodun, the meeting also decided to support engagement between state governors and the leadership of the labor unions across the states.
The NEC also decided that funding for Micro, Small, and Medium-Sized Enterprises (MSMEs) was necessary, particularly the conversion of buses and taxis from fuel to CNG.
The usage of electric vehicles, according to Abiodun, was the long-term strategy, and it would take six to eight months to set up factories for them in each geopolitical zone.
The governor discussed an ambitious proposal to provide 10,000 electric buses.
While doing so, Vice President Shettima read the Council’s resolutions, adding,
“We will also pursue vigorously the mass deployment of CNG-powered vehicles and establishment of autogas conversion plants/kits in all States in the short-term and deployment of electric buses and cars with charging infrastructure across the country.”