Audio By Carbonatix
The Nigerian government has approved the disbursement of 5bn naira ($6.5m; £5.1m) to each of the country’s 36 states and the federal capital for the procurement of food items for the poor.
It will also distribute bags of rice, maize and fertiliser, Governor Babagana Zulum of the north-western Borno state told the media after a National Economic Council meeting at the presidential villa in the capital, Abuja.
The move comes as part of palliative measures to address the rising cost of food and other commodity prices, a fallout from the fuel subsidy removal by the government.
Nigerians are facing a high cost of living, including transportation costs caused by more than a 200% rise in fuel prices after President Bola Tinubu removed fuel subsidies when he took over power in May.
Food prices have also more than doubled as a result, with the president declaring a state of emergency over food insecurity last month.
Last month, he announced several economic measures aimed at improving food security, supporting small businesses, bolstering manufacturing and easing transportation costs across the country.
He said the removal of subsidies yielded results by helping the government save over 1tn naira ($1.2bn).
Latest Stories
-
Dad unlawfully killed daughter in Texas shooting, coroner rules
3 hours -
Anas wins 7 – 0 as SC unanimously rejects attempts to reverse judgment in his favour
3 hours -
The cocoa conundrum: Why Ghana’s farmers are poor despite making the world’s best chocolate
4 hours -
Powerful cyclone kills at least 31 as it tears through Madagascar port
4 hours -
GoldBod summons 6 gold service providers over compliance exercise
5 hours -
Power disruption expected in parts of Accra West as ECG conducts maintenance
5 hours -
Police investigate alleged arson attack at Alpha Hour Church
5 hours -
Heavy Sunday downpour wrecks Denyaseman SHS, schools, communities in Bekwai Municipality
5 hours -
Ridge Hospital is in critical condition – GMTF Boss appeals to corporate Ghana
6 hours -
Introduce long term measures to tackle challenges in cocoa sector – IERPP to government
6 hours -
Agricultural Economist proposes blended financing model to support cocoa sector
6 hours -
NPP MP warns against reducing producer price as government rolls out cocoa reforms
7 hours -
Tano North MP urges halt to grain exports over food glut
7 hours -
Farmers hopeful as government moves to expedite cocoa payments
7 hours -
Tensions at Agbogbloshie market women oppose AMA drain cleaning exercise, items confiscated
7 hours
