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NEC Approves Measures to Alleviate Impact of Subsidy Removal

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The National Economic Council has given the green light to several measures set to provide relief and support to the public, bolstering the nation's economy.

Among the approved measures is a cash award policy for public servants, aimed at recognizing their dedication and service. 

Additionally, there will be improved funding for Small and Medium-sized Enterprises (SMEs), fostering growth and entrepreneurship in the country. Infrastructure will also receive substantial investments, ensuring the development of key sectors. 

The council agreed on a crucial step towards energy transition to implement Compressed Natural Gas (CNG) as an alternative to petrol. This move is expected to contribute to sustainable and eco-friendly energy usage. 

The economic council also intends to distribute grains to Nigerians through their respective state governments. This measure will provide essential food support to citizens, particularly those facing economic hardships. 

Speaking during a media briefing, Anambra State Governor, Chukwuma Soludo, shared the council's decision, emphasizing its immediate effect on easing the economic burden faced by Nigerians. 

Soludo noted that the National Social Register will undergo revision, making it more efficient and relevant. 

The respective state governments will now take the lead in managing the register, ensuring better coordination and responsiveness to citizens' needs. 

This will allow state governments to facilitate conditional cash transfers according to their financial capabilities. This will empower them to provide assistance to those who require it most.


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