Connect with us

Business and Economy

Governors to take decision on fuel subsidy, queries payment of N800bn – Gov. Yari

Published

on

 

The Chairman of Governors’ Forum, Gov. Abdulazeez Yari of Zamfara says the National Economic Council (NEC) will soon take decision on whether to allow the continuation of payment of petroleum subsidy by NNPC or not.

Yari stated this while responding to questions after the meeting of NEC which was chaired by Vice-President Yemi Osinbajo at the presidential villa, Abuja on Thursday.

He said the governors would next month (June) take decision on whether to take responsibility for the subsidy in their states or not.

He said the governors’ position was informed by the huge amount of money being spent by the NNPC as payment for fuel subsidy annually.

He described as outrageous the N800billion being expended by the NNPC as subsidy.

“Our problem is the volume, the quantity of consumption which is not acceptable.

“Working with the governors so many decisions were taken but by next month, we are going to adopt that position either for the governors to take responsibility for the subsidy in their states based on the consumption or we look at other ways.

“For instance, if you say we paid N800 billion subsidy, you will ask who are we paying the subsidy to? And if you look at infrastructure development and capital programme of the Federal Government, it is about N1.1 trillion, almost 70 per cent of what you are spending on developing the economy.

“If there is no infrastructure development then you cannot talk about development of the economy. N800 billion is a huge amount that we must look at it, who is benefiting from it.

“So we are coming up with a strategy, we are going to meet in the month of May and June.

“By next meeting, we will definitely come up with a position of the government at both level of volume of what is being brought into the country and what the state and Federal Government collaborate to check,’’ he said.

The governor revealed that the Minister of State for Industry, Trade and Investment briefed the NEC on the establishment of the Nigerian Industrial Policy and Competitiveness Advisory Council which was approved by Federal Executive Council (FEC) in 2017.

“The Industrial Council recognises that there is need for collaboration between the Federal Government (FG), State and Local Government to drive the industrialisation agenda.

“The briefing today was to present the eight initiatives and recommendations from the Industrial Council that requires State Governments intervention,’’ he added.

Yari said the Advisory Council requested NEC to approve the proposals to address the bottlenecks identified in order to drive the Industrialisation agenda.

He, however, said that the Council while welcoming the prayers resolved that the Nigeria Communication Commission should go and outline its plans and communicate same to the State Governors in the next meeting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest News

Business and Economy11 mins ago

Singapore maintains world’s 3rd most viable economy

Singapore has held on to its spot as the world’s third-most competitive economy in an annual ranking released on Thursday...

Uncategorized30 mins ago

NANS gives FG three months’ ultimatum to resolve NOUN Law School crisis

‎The National Association of Nigerian Students (NANS) has issued three months’ ultimatum to the Federal Government to admit Law graduates...

Politics40 mins ago

Kingsley Moghalu declare for President under YPP

Professor Kingsley Chiedu Moghalu, the 2019 presidential candidate and former deputy governor of the Central Bank of Nigeria, has announced...

education1 hour ago

Convocation: LASG promises to make LASU best varsity

Governor Akinwunmi Ambode of Lagos State on Thursday says the state remains committed toward making the Lagos State University (LASU)...

Crime1 hour ago

Innoson Motor’s boss declared wanted

Justice Mojisola Dada of the special offences court sitting in Lagos, on Thursday declared the Chairman of Innoson Motors Nigeria Ltd,...

Politics1 hour ago

Court faults Jibrin’s suspension, order payment of accrued salaries

The Federal High Court in Abuja on  on Thursday voided the 180-legislative-day suspension imposed by the House of Representatives on a...

Metro1 hour ago

Home grown feeding: Vendor steals 200 crates of eggs in Niger

By Hammed Salawu,Minna A desk officer involved in the home grown feeding of primary school pupils has been caught with...

news2 hours ago

Niger drills 7 shallow oil wells, sets for Bida Basin oil exploration

  By Hammed Salawu, Minna The Niger state Commissioner for Mineral Resources, Hajiya Ramatu YuarAdua has explained that seven shallow...

Politics2 hours ago

Children’s Day: Senate urges FG to intensify effort to release Leah 

The Senate on Thursday, urged the Federal Government to intensify effort to secure the release of Leah Sharibu, the only...

Crime2 hours ago

N500m Money Laundering: Shagari, 4 PDP chieftains get bail

A Federal High Court in Sokoto on Thursday granted bail to former Minister of Water Resources, Muntari Shagari and four...

Advertisement

Copyright © 2017 Royal News.

%d bloggers like this: