In a recent session held in the Red Chamber, Senate President Godswill Akpabio has disclosed that the federal government, through the Federal Inland Revenue Service (FIRS), has disbursed an extra N30 billion to each state governor across the federation.
The purpose of this allocation is to address the pressing issue of soaring living costs, particularly the skyrocketing prices of food items.
Akpabio clarified that these funds are separate from the governors’ regular monthly allocations and are specifically designated to combat the crisis of inadequate food supplies.
He urged state governors to utilize the funds exclusively for addressing food availability challenges and cautioned against diverting them for unrelated purposes.
Highlighting the importance of effective utilization of the allocated funds, Akpabio emphasized, “Unverified reports suggest that each state government has received an additional N30 billion from the Federal Inland Revenue Service in recent months, over and above their usual allocations from the federation account, to assist in improving the food situation. We believe it is crucial for every state government to utilize these funds to ensure food availability.”
The revelation comes amidst growing concerns over food inflation in Nigeria, with many citizens struggling to afford essential food items due to their rising prices.
According to data from the Nigeria Bureau of Statistics, the country’s food inflation rate currently stands at a staggering 35.41 per cent.
Despite the government’s efforts, including the declaration of a state of emergency on food security, food prices continue to escalate.
In response to these challenges, the president has directed the Ministry of Agriculture and Food Security to release approximately 42,000 metric tons of maize, millet, and other commodities from the national strategic reserves.
This initiative aims to stabilize food prices across the country and alleviate the burden on consumers.
