The federal government has announced a N5 billion palliative for each state of the federation, including the federal capital territory (FCT), to cushion the impact of the removal of the petrol subsidy.
Babagana Zulum, governor of Borno state, made the announcement in Abuja on Thursday when he spoke to State House correspondents at the end of a national economic council (NEC) meeting. It was also announced that trucks loads of grains and rice have been given to each state.
Vice President Kashim Shettima presided over the meeting.
Source: https://currencyrate.today/converter-widgetEach State is manadated to use the money to procure food items for the citizens.
“52 percent of the N5b is given while 48 percent as grant is to be paid back to the Federal government purse in 2 years time.”, Babagana Zulum explained.
The council is made up of governors of the 36 states, the governor of the Central Bank of Nigeria (BN) and other coopted government officials.
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