Subsidy Palliatives: FG Gives Cash Backing To States, Each Gets N5 Billion

By Ayodele Oni

As States are still battling with the sharing formular for 3000 bags of rice as palliatives, 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 (CBN) and other coopted Government officials.

According to him, the meeting considered varying issues, including the Federation’s financial status, general issues, especially but the deployment of palliatives aimed at cushioning the harsh effects of the fuel subsidy removal.