N500bn earmarked as palliative for fuel price hike ‘missing’

Indications have emerged that the N500 billion palliative package offered by the Federal Government to cushion the effects of the recent increase in the pump price of Premium Motor Spirit (PMS), also called petrol, in the country may be ‘missing.’

The Senior Staff Association of Universities, Teaching Hospitals, Research Institutes and Associate Institutions (SSAUTHRIAI) alleged that the fund could not be found from the time it was pronounced by the Presidency.

The association, under the aegis of the Trade Union Congress of Nigeria, made this known while lamenting over the government’s insensitivity towards the plights of Nigerian workers

In May 2016, the Federal Government had raised the fuel pump price from N86.50 to N145 using the Petroleum Pricing Regulatory Agency (PPPA) and later announced N500 billion palliative measures to relief Nigerians of the potential hardship the hike could cause.

Some Nigerians have, however, raised concerns over the delay in the implementation of the social welfare scheme which was expected to serve as succor to Nigerians for agreeing with the Federal Government since it was announced more than two years ago.

Read Also: Nigeria imports 4.79bn litres of petrol in 3 months

Speaking at the opening ceremony of a two-day sectoral council meeting held at the National Metallurgical Development Centre in Jos, Plateau State, the President of the association, Benjamin Akintola, said he was aware that N500 billion was earmarked in the 2016 budget for the social welfare.

“I was there when the TUC and Nigeria Labour Congress (NLC) were discussing one night at the office of the Secretary to the Government of the Federation when they were to increase the fuel price from N86 to N145 and it was stated that N500 billion was included in the 2016 Budget as a palliative. They set up a committee; in fact it was that N500 billion that divided TUC and NLC.

“The TUC said that since the government said they had put that amount in the budget as a palliative, there was no need to go on strike. But the NLC said they were going on strike. That was how the unions were divided.

“The N500 billion is nowhere to be found till this moment. Whether it is missing, we don’t know. The committee was set up. I read the report. We were to be given N20 percent across board to serve as transport allowance because of the increment in the pump price of fuel. It was never implemented,” he said.

 

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