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FG Allocates ₦5bn Palliative To 36 States For Subsidy removal

August 17, 2023
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FG Allocates ₦5bn Palliative To 36 States For Subsidy removal

FG Allocates ₦5bn Palliative To 36 States For Subsidy removal

The federal government has announced a N5 billion palliative for each state of the federation, including the federal capital territory (FCT), to cushion the impact of the removal of the petrol subsidy.

Babagana Zulum, governor of Borno state, made the announcement in Abuja on Thursday, when he spoke to State House correspondents at the end of a national economic council (NEC) meeting.

Vice President Kashim Shettima presided over the meeting.

The council is made up of governors of the 36 states, the governor of the Central Bank of Nigeria (BN) and other coopted government officials.

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At the conclusion of a national economic council (NEC) meeting in Abuja, Governor Babagana Zulum of Borno state revealed that the federal government has declared a palliative of N5 billion for each state in the federation, including the federal capital territory (FCT).

This initiative aims to alleviate the impact caused by the elimination of the petrol subsidy. Vice President Kashim Shettima chaired the meeting.