In a bid to alleviate the impact of the fuel subsidy removal on the Nigerian population, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has formally declared the endorsement of a significant ₦2 billion palliative by President Bola Tinubu.
This announcement was made during a meeting held on Monday with contractors at his office, following the inaugural Federal Executive Council (FEC) gathering under the current administration.
The minister, shedding light on the significant palliative allocation for FCT residents, emphasized that the earmarked fund is primarily intended to alleviate transportation challenges faced by the community.
With a keen eye on bolstering project financing, Wike shared that while the Federal Government aims to increase funding for projects, the FCT Administration will also explore options to boost its internally generated revenue.
However, Wike issued a stern warning to contractors, underscoring that there will be no room for excuses moving forward.
This directive aligns with the overarching mission to ensure efficient and timely project execution.
It is worth noting that the Federal Government’s initiative extends beyond the FCT.
A palliative of 5 billion Naira has been sanctioned by the Federal Government for every State, FCT inclusive, in mitigating the impacts of the fuel subsidy removal on citizens.