21st July, 2023
By Salisu Sani-Idris
The National Economic Council (NEC), on Thursday in Abuja endorsed the proposed mass deployment of Compressed Natural Gas (CNG) vehicles to all States for public transportation to cushion the effect of petrol subsidy removal.
The Director of Information, Office of the Vice President, Mr Olusola Abiola, in a statement, said the decision was part of resolutions reached at the fourth meeting of the Council, chaired by Vice President Kashim Shettima, at the State House Executive Council Chambers.
Abiola explained that the decision was taken after a presentation by the NEC Adhoc Committee led by Gov. Chukwuma Soludo of Anambra state.
Speaking after deliberations on the presentation, Shettima said “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.
“We will also deploy electric buses and cars with charging infrastructure across the country.”
He also revealed that the meeting resolved to support enhanced engagements between State Governors and the leadership of the labour unions across the States, and proposed the provision of the cost-of-living allowances to be paid to civil servants in both the State and Federal Civil Services.
“The council agreed to support Federal Government’s efforts to scale up infrastructure, especially to give attention to fixing dilapidated highway roads across the country.
“Other highlights of the NEC meeting are as follows: outstanding balances at the end of June Excess Crude Account – US$473,754.57, Stabilisation Account N27,524,857,142.27, Development of Natural Resources Fund N98,421,834,602.86, and Monthly Statutory and Exchange Gain, Non-Oil Revenues.
“Balance as at Jan. to June, 2023 is N104,978,145,865.86, Solid Mineral Development Fund (SMDF) Balance as at January to June, 2023 – N835,511,263.00.
On update on State Budget Support Facility as at June 30, he said that the Federation Account Allocation Committee meeting (FAAC) outstanding liability was N1,718,705,566,436.25.
He said the presentation on revenue outlook made by the Chairman, Federal Inland Revenue Service, Mr Muhammad Nami, focused on major revenue reforms implemented between 2020 and 2023.
“Four key areas highlighted include; restructuring tax operations and administration, automation of tax administration, operational processes, creating a customer-focused service and creating a data-centric institution.”
(NAN)