ABUJA – The Nigerian government has approved the disbursement of five billion naira ($6.5 million) to each of the country’s 36 states and the federal capital for the procurement of food items for the poor.
It will also distribute bags of rice, maize and fertilizer, Governor Babagana Zulum of the north-western Borno state told the media after a National Economic Council meeting at the presidential villa in the capital, Abuja.
The move is part of measures to ease the rising cost of living, a fallout from President Bola Tinubu’s decision to remove fuel subsidies when we took power in May.
Since then fuel prices have risen by 200% and food prices have more than doubled – leading to the president declaring a state of emergency over food insecurity last month and announcing measures to boost food security, small businesses, manufacturing and affordable transport.
President Tinubu said the removal of subsidies had helped the government save more than one trillion naira ($1.2 billion). (BBC)
