The Nigerian government has granted approval for the allocation of 5 billion naira ($6.5 million; £5.1 million) to each of the country’s 36 states and the federal capital city. This funding is earmarked for procuring food items intended for distribution among the impoverished.
Governor Babagana Zulum of the north-western Borno state shared this information with the media following a National Economic Council meeting held at the presidential villa in Abuja, the capital.
This decision is part of a broader strategy to alleviate the mounting cost of living, a consequence of President Bola Tinubu’s decision to eliminate fuel subsidies after assuming power in May.
Subsequent to the subsidy removal, fuel prices have escalated by 200%, while food prices have more than doubled. These developments prompted the president to declare a state of emergency concerning food insecurity last month. He also announced measures aimed at enhancing food security, bolstering small businesses, fortifying manufacturing, and establishing affordable transport options.
President Tinubu emphasized that the removal of subsidies facilitated the government in saving over 1 trillion naira ($1.2 billion).