The Federal Government has approved N5 billion for each state and the Federal Capital Territory (FCT) to procure food items for distribution to the poor in their respective states.
This comes after the removal of a subsidy on food items and petroleum due to the hike in costs. Governor Babagana Zulum of Borno State announced the funding at the Presidential Villa, Abuja, following the National Economic Council (NEC) meeting.
The funds were distributed to 36 state governors, who are required to procure 100,000 bags of rice, 40,000 bags of maize, and fertilisers. 52% of the funds were given as grants, with 48% as loans.
A committee was set up to engage with the leadership of the Nigerian Labour Congress (NLC) over the subsidy removal.
The NEC also discussed security issues, particularly recent attacks in the northern parts of Nigeria.
