FG rolls out N1tn palliative, massive construction projects
President Bola Tinubu on Thursday gave all the state governors seven days to provide concrete feedback on their plans to rev up food production in their respective states.
Tinubu gave the directive at the 142nd National Economic Council meeting attended by state governors and some deputies at the State House, Abuja.
He also announced a National Construction and Household Support Programme which will see 100,000 families in each state getting N50,000 grant for three months, N155bn to be disbursed for assorted foods, N540bn for household grants even as 36 states and the Federal Capital Territory will get N10bn allocations each for CNG buses.
READ ALSO: Tinubu Approves N50,000 Grant, N155bn Food Package For Households
The N50,000 planned for 3.7 million families across the 36 states and the FCT, the N10bn allocation each for CNG buses in the 36 states and the FCT, as well as the N155bn spending on assorted foods, are estimated to cost over N1tn.
While emphasising the urgency of boosting food production in the country, the President urged state governors to work together to meet the needs of citizens, stating his willingness to provide the needed support to ensure that Nigerians are relieved of hardship.
“We must deliver on our targets at all levels. Please report back following your consultations and submit it to my office within seven days.
“How much support do you need from me and in what form? I am prepared to provide it. But we must achieve the result.
“There is nothing we are doing that is more important than producing high-quality food for our people to consume, buy, and sell. We create jobs in the production of it. And that is before we generate wealth by exporting the excess. It is not beyond us to achieve this for Nigerians,” he said.
The President’s comments followed multiple economic challenges rocking the country. High inflation driven by the removal of fuel subsidies and exchange rate depreciation reached 27 per cent year-on-year in October 2023.
This price surge, coupled with high food insecurity has exacerbated the cost-of-living crisis, leaving Nigerians struggling to afford necessities.
Despite adopting significant policy reforms like fuel subsidy removal and exchange rate unification, the challenges of poverty, stalled per-capita growth, and a weak business environment persist and are compounded by external pressures such as global food price surges and geopolitical uncertainties.
At Thursday’s NEC meeting, Tinubu announced new plans to boost agricultural productivity, strengthen the economy by creating opportunities in the real sectors of agriculture, manufacturing, and construction, and provide urgent economic relief for Nigerians.
This includes the immediate rollout of the National Construction and Household Support Programme to cover all geo-political zones in the country.
“Under the programme, the Sokoto-Badagry Highway, which will traverse Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos, is prioritised,” according to a statement signed by the President’s Special Adviser on Media and Publicity, Mr Ajuri Ngelale.
The statement is titled, ‘President Tinubu urges governors to meet target on food security; approves immediate rollout of national construction and household support programme.’
