Subsidy Palliative: FG gives states N5bn to buy rice, maize

The Federal Government has approved N5bn for each state and the Federal Capital Territory (FCT) to enable them to buy food items like rice, maize to cushion the effect of fuel subsidy removal in thier respective states.

This was disclosed by Governor Babagana Zulum of Borno State at the Presidential Villa, Abuja, shortly after the National Economic Council (NEC) meeting on Thursday.

Zulum explained that state governors will use the fund to procure 100,000 bags of rice, 40,000 bags of maize, and fertilizers.

He said that 52 percent of the funds were given to the state governments as grants while 48% is as loans to be repaid in instalments within 20 months to the Central Bank of Nigeria.

Zulum also said the Federal Government last week released five trucks of rice each to the 36 state governors.

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