The Federal Government has allocated N5 billion to each state for the purchase of food items to be distributed among the underprivileged, as revealed by Governor Babagana Zulum of Borno State after the National Economic Council (NEC) meeting at the Presidential Villa, Abuja.
This step was taken in response to the rising costs of food and petroleum following the removal of subsidies. Additionally, the government has supplied five trucks of rice to each of the 36 state governors.
Governor Zulum clarified that the governors are tasked with procuring 100,000 bags of rice, 40,000 bags of maize, and fertilizers. Of the allocated funds, 52% are in the form of grants while 48% are loans.
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The meeting, attended by Vice President Kashim Shettima, governors, and other stakeholders, also addressed security concerns, particularly recent attacks in northern regions.
The NEC session followed shortly after the Nigerian National Petroleum Company (NNPC) Limited secured a $3 billion Emergency Crude Repayment Loan from the African Export-Import Bank (AFREXIM) Bank.
