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FG Ready to Begin Distribution of N5 Billion Palliative Fund to Alleviate Cost of Living

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FG Ready to Begin Distribution of N5 Billion Palliative Fund to Alleviate Cost of Living

In a significant move aimed at addressing the growing concerns over the rising cost of living in Nigeria, the Federal Government has announced its intention to distribute a N5 billion palliative fund to all 36 states. This development was made public during the National Economic Council (NEC) meeting held on Thursday and presided over by Vice President Kashim Shettima at the Presidential Villa in Abuja.

The decision to allocate this substantial fund is in response to the removal of subsidies, which has resulted in a surge in the cost of essential commodities across the nation. As part of a comprehensive strategy to mitigate the impact of this sudden economic shift, the government is taking proactive measures to alleviate the financial burden on its citizens.

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Speaking at the meeting, Borno Governor Babagana Zulum provided insights into the proposed measures that the government is undertaking to bring temporary relief to the people. Among these measures, the most notable is the purchase of essential food items, particularly 100,000 bags of rice and beans. This strategic acquisition is expected to assist families in accessing basic nutritional needs without the undue strain of inflated market prices.

Additionally, each of the 36 states will receive a considerable allocation of five trucks of rice. The distribution of these food supplies across the states is intended to reach households directly, thereby ensuring equitable access to the palliative relief.

A noteworthy aspect of the distribution plan is the consideration given to frontier states that share a border with the Niger Republic. These bordering states, which have borne the brunt of an influx of refugees from the neighboring country, will receive a larger share of the palliative materials. This decision underscores the government’s recognition of the unique challenges faced by these states due to the refugee crisis and is intended to provide immediate assistance to those affected.

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The collaborative nature of the decision-making process within the NEC is indicative of the government’s commitment to addressing the immediate needs of its citizens during these challenging times. The allocation of the N5 billion palliative fund is not only a demonstration of the government’s responsiveness to the current economic situation but also a proactive step towards stabilizing the economy and ensuring the well-being of the populace.

The announcement of this initiative has been met with a mixture of relief and anticipation from citizens who have been grappling with the repercussions of the subsidy removal. As the government prepares to initiate the distribution process, expectations are high that this move will provide some respite to households facing financial strain.

In conclusion, the N5 billion palliative fund distributed to all 36 states is a commendable step taken by the Federal Government to alleviate the immediate impact of subsidy removal on the cost of living. By prioritizing the purchase and distribution of essential food items, especially in bordering states, the government is demonstrating its commitment to the well-being of its citizens. This initiative not only reflects a collaborative approach to governance but also signals a concerted effort to mitigate the challenges faced by Nigerian households in the wake of economic changes.

Source: The Nation Online

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One Comment

  1. Use the money to repair the refineries and set up tech.industries that can produce and employ people

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