President Bola Tinubu has directed all state governors to provide detailed feedback on their plans to boost food production within seven days.
This directive was issued during the 142nd National Economic Council (NEC) meeting at the State House, Abuja, attended by state governors and some deputies.
During the meeting, Tinubu also announced a comprehensive national construction and household support program. This initiative will provide 100,000 families in each state with a N50,000 grant for three months, disburse N155 billion for assorted foods, and allocate N540 billion for household grants.
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Additionally, each state and the Federal Capital Territory (FCT) will receive N10 billion for the procurement of CNG buses. The total cost of these initiatives is estimated to exceed N1 trillion.
Emphasizing the urgency of enhancing food production, President Tinubu urged state governors to collaborate and meet the needs of citizens. He expressed his readiness to offer the necessary support to alleviate the current hardships faced by Nigerians.
“We must deliver on our targets at all levels. Please report back following your consultations and submit them to my office within seven days.
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How much support do you need from me, and in what form? I am prepared to provide it. But we must achieve the result,” Tinubu stated. “Producing high-quality food for our people is crucial for creating jobs, generating wealth, and boosting our economy.”
The President’s remarks come amidst significant economic challenges, including high inflation driven by the removal of fuel subsidies and exchange rate depreciation, which reached 27 percent year-on-year in October 2023. These issues, coupled with high food insecurity, have exacerbated the cost-of-living crisis.
President Tinubu’s attendance at the NEC meeting, typically chaired by Vice President Kashim Shettima, marked his first.
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The NEC was expected to discuss the new minimum wage, but the matter was not addressed in detail. Instead, the council focused on agricultural and economic reforms.