BY FESTUS OKOROMADU
The National Economic Council has set up an ad hoc committee on how to alleviate the suffering faced by Nigerian workers, following the removal of fuel subsidy.
The council, according to a statement by the Office of the Vice President, gave the committee two weeks to look into two scenarios suggested by the National Salaries Wages and Income Commission.
The NSWIC Chairman, Ekpo Nta, suggested that the national minimum wage be reviewed to reflect present-day realities and that a cost of living adjustment allowance costing $702.9bn be created to mitigate the impact of the subsidy removal on workers.
NEC also gave an update on the country’s accounts, disclosing that the Excess Crude and Stabilisation Accounts stood at $473,754.56 and $26.6bn respectively as at Friday, last week while the Natural Resources Fund was $96.9bn.
