States including the Federal Capital Territory will get N5bn palliative to cushion the impact of the removal of the petrol subsidy.
The governor of Borno State, Babagana Zulum, made the announcement in Abuja on Thursday when he spoke to State House correspondents at the end of a National Economic Council meeting.
Vice President Kashim Shettima presided over the meeting.
The council is made up of the governors of the 36 states, governor of the Central Bank of Nigeria and other coopted government officials.
The membership of NEC includes the governors of the 36 states of the federation, Ministers of Federal Capital Territory (FCT) and Finance, Governor of the Central Bank of Nigeria (CBN), and the Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL), among others.
It was gathered that the meeting considered varying issues, including the Federation’s financial status, general issues, especially the deployment of palliatives aimed at cushioning the harsh effects of the fuel subsidy removal.
