In order to cushion the effect of the hardship economic situation as a result of removal of fuel subsidy, the federal government has approved a sum of N5 billion palliative for each state of the federation, including the federal capital territory (FCT).
The Governor of Borno State, Babagana Zulum disclosed this at the end of the National Economic Council (NEC) meeting in Abuja on Thursday.
The Council is made up of the Vice President, Kashim Shettima, who presided over the meeting, governors from all the 36 states of the federation, Governor of the Central Bank of Nigeria (CBN) and other co-opted government officials.
The meeting was held at the Council Chamber of the Presidential Villa, Abuja.
The meeting addressed some of the pertinent economic challenges in the country occasioned by the removal of petrol subsidy and part of them is the approved N5 billion for states and the FCT.
Also discussed at the meeting are security challenges across the country, with recent attacks in some parts of the North.
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