In a bid to address the escalating issue of food inflation in Nigeria, the federal government has allocated an extra N30 billion to each state governor across the federation.
This revelation came to light during a recent session held in the Red Chamber, where Senate President, Senator Godswill Akpabio, disclosed the disbursement through the Federal Inland Revenue Service (FIRS).
The purpose of this allocation is to tackle the pressing challenge of soaring living costs, particularly the skyrocketing prices of food items. Sen. Akpabio emphasised 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 utilise the funds exclusively for addressing food availability challenges and cautioned against diverting them for unrelated purposes. Highlighting the importance of effective utilisation, Sen Akpabio emphasised the necessity for every state government to ensure food availability, citing unverified reports of additional funds disbursed in recent months to assist in improving the food situation.
This development comes amidst growing concerns over food inflation in Nigeria, with the country’s food inflation rate currently standing at a staggering 35.41 percent according to data from the Nigeria Bureau of Statistics. Despite government efforts, including the declaration of a state of emergency on food security, food prices continue to escalate, burdening many citizens.
As the nation grapples with the effects of food inflation, concerted efforts from government and stakeholders are crucial to mitigate the impacts on the economy and ensure food security for all Nigerians.
