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The Federal Government has allocated N5 billion to each state, including the Federal Capital Territory (FCT), to facilitate the acquisition of food items intended for distribution among the underprivileged within their respective regions.
Governor Babagana Zulum of Borno State made this announcement at the Presidential Villa in Abuja, following the conclusion of the National Economic Council (NEC) meeting.
This latest development, occurring on Thursday, follows the recent surge in the prices of food items and petroleum due to the removal of subsidies on these commodities.
In further support, Governor Zulum stated that the Federal Government has additionally dispatched five truckloads of rice to each of the 36 state governors.
Providing additional clarification, Governor Zulum stated that the state governors will be responsible for acquiring a total of 100,000 bags of rice, 40,000 bags of maize, along with fertilizers.
He observed that 52 percent of the funds were allocated to state governments as grants, while the remaining 48 percent was designated as loans.
A committee was established, composed of key figures such as Anambra State Governor Charles Soludo and Governor AbdulRazaq AbdulRahman of Kwara State, who chairs the Nigerian Governors’ Forum. This committee was entrusted with the responsibility of engaging with the leadership of the Nigerian Labour Congress (NLC) regarding their advocacy for palliatives in light of the subsidy removal.
In addition to the economic challenges confronting Nigeria following the removal of subsidies, the National Economic Council (NEC) also deliberated on pressing security concerns, particularly the recent spate of attacks in the northern regions of the nation.
In addition to Governor Zulum, the meeting was presided over by Vice President Kashim Shettima, and it was attended by various governors and stakeholders.
The members of NEC have been engaged in discussions regarding strategies to mitigate the effects of the subsidy removal.
The latest convening of NEC took place shortly after the Nigerian National Petroleum Company (NNPC) Limited successfully obtained a $3 billion Emergency Crude Repayment Loan from the African Export-Import Bank (AFREXIM) Bank.
