Council of State approves N185bn subsidy removal palliatives for states, FCT
The Federal Government has announced the approval of N5bn each for every of the 36 states and the Federal Capital Territory (FCT) as palliatives to cushion the effects of fuel subsidy removal.
This was made public at the Thursday National Council of States meeting presided over by Vice President Kashim Shettima at the Council chambers.
Speaking to State House Correspondents at the end of the meeting, Borno State Governor, His Excellency, Babagana Zulum announced that Federal Government has approved N5bn palliative for each State including the FCT to cushion impact of subsidy removal.
He explained that it was part of measures to bring temporary solutions to the high cost of living caused by the subsidy removal.
In addition to the fund, Zulum said the Federal Government also released five trucks of rice each to the 36 States Governors.
Explaining further, Governor Zulum said the State Governors are to procure 100,000 bags of rice, 40,000 bags of maize and fertilizers.
He noted that 52 percent of the funds were given to the State Governments as grants, while 48 percent is as loans.
Aside from the economic difficulties facing Nigeria in the wake of the subsidy removal, NEC also discussed security issues especially recent attacks in the northern parts of the country.
National Economic Council also agreed that the frontier States bordering Niger Republic are to be assisted with more palliative materials than others, considering the influx of refugees into their domains from the beleaguered neighbouring country.