The Federal Government has approved a N5 billion palliative fund to cushion the effect of fuel subsidy removal.
Daily Report Nigeria reports that the N5 billion subsidy palliative fund was approved for the procurement of food items for each of the 36 states by President Bola Tinubu.
This was revealed by Governor Babagana Zulum of Borno, during a briefing with newsmen on Thursday following the conclusion of National Economic Council (NEC) for August, which held at the Presidential Villa, Abuja.
According to Governor Babagana Zulum of Borno, the move was part of measures aimed at bringing temporary solutions to the high cost of living occasioned by the removal of subsidy.
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Zulum said the States will purchase 100,000 bags of rice and beans among other items.
He added that the States will receive five trucks of rice each.
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“NEC agreed that the frontier States bordering the 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,” he added.
The Federal Capital Territory will also receive the N5 billion subsidy palliative by the announcement.
