President Bola Tinubu has directed the National Economic Council (NEC), led by Vice President Kashim Shettima, to begin providing palliatives to Nigerians as part of efforts to mitigate the effects of the subsidy removal.
The president said this when meeting with some major oil marketers led by Ogun state governor Dapo Abiodun at the State House in Abuja on Wednesday, June 7.
According to Governor Abiodun, the marketers supported the president’s decision to remove the N4 trillion subsidy burden.
The marketers subsequently announced their intention to donate 50 to 100 fifty-seater mass transit buses that would run on Compressed Natural Gas.
Each bus will cost N100 million and N10 billion cumulatively to cushion the effect of the subsidy removal within the next 30 days.
Before his foray into politics, Governor Abiodun was a prominent oil marketer and Managing Director of Heyden Oil.
The governor still plays a significant role among the marketers as a former ranking member.