The National Economic Council of Nigeria is currently in session at the Presidential Villa in Abuja.

This meeting comes just two days after the Nigerian National Petroleum Company Limited raised the petrol pump price from N540/litre to N617/litre, sparking outrage among Nigerians and concerns from the private sector about possible business shutdowns and job losses.

In response to public criticism of the earlier plan to distribute monthly cash grants of N8,000 to 12 million households for six months following the removal of fuel subsidies, the Federal Government has decided to review the policy.

Organized labor argued that the proposed intervention was insufficient to ease the hardships faced by vulnerable Nigerians.

Vice President Kashim Shettima is chairing the meeting, and attendees will discuss recommendations to mitigate the impact of the petrol subsidy removal on workers, including a proposed living wage adjustment.

The meeting is attended by several high-ranking government officials and governors from various states across Nigeria.