Dollar to Naira News

Inflation: Nigerian government releases over 700 metric tonnes of grains to Ekiti – Daily Post


As part of the concerted measures to buffer the effect of the increase in the prices of food commodities on the citizens, the federal government has released over 700 metric tonnes of grains to Ekiti State.

The grains, principally maize and garri, according to the Ekiti State Deputy Governor, Monisade Afuye, who received the items on behalf of Governor Biodun Oyebanji, will be distributed to vulnerable groups to give them a lifeline under this crunchy economic downturn.

Speaking in Ado Ekiti, on Thursday, during the handover of the commodities to the Ekiti Government by the National Emergency Management Agency, NEMA, Mrs Afuye, revealed that the items comprise 12,000 bags of maize grains and 3,008 bags of garri.

She emphasized that the FG’s gesture was geared towards palliating the sufferings of the Ekiti populace under the current economic situation.

According to a statement by her Special Assistant on Media, Victor Ogunje, Mrs Afuye, lauded President Tinubu and Governor Oyebanji for their partnership that was yielding enormous dividends for the Ekiti populace.

The Deputy Governor revealed that the assorted commodities were released from the National Strategic Reserve to vulnerable persons in Ekiti State.

She applauded Governor Oyebanji for speedily releasing a whopping sum of N58.113 million to ABT Transport Services to convey the materials to Ekiti for onward distribution to the targeted population.

“The state government recently distributed 20 thousand bags of rice and garri, not just to the vulnerable but to all the groups through their respective wards, faith-based societies and even the civil servants.

“The Governor also approved certain funds to victims of fire accidents as collated by the State Emergency Management Agency. I want to place on record that Oyebanji’s government is a progressive and forward-looking one.

“All these attest to the fact that the partnership between Governor Oyebanji and FG’s agencies is yielding dividends for our people. Just as we have been doing, we will make sure these materials get to the targeted population to justify the kernel for which it was released”, she said.

Exposing the reason behind the FG’s philanthropic gesture, NEMA’s Director General, Zubaida Umar, said a total of 42,000 metric tonnes of grains, comprising rice, garri, sorghum, and millets, were released by Tinubu’s government to 36 states to reduce the effect of astronomic increase in prices of food materials on the citizens.

Umar, represented by NEMA’s Southwest Zonal Director, Mr Stephen Adewale, stated that the federal government was aware of the negative effects of the current economic downturn, saying the distribution to Ekiti would go a long way in mitigating the inflation.

“The above food items will be shared equally to all the Local Government Areas in Ekiti. Based on the directives of Mr President, 20% of the food items due for each LGA should be given to religious organisations, and 3% to be given to boarding schools”, he said.

In their separate addresses, the Permanent Secretary, Office of the Ekiti State Deputy Governor, Mr Abayomi Opeyemi and General Manager, Ekiti State Emergency Management Agency, Mr Oludare Asaolu, described the initiative as a way of ensuring that dividends of democracy get to the populace.

See Dollar to Naira black market today, Pound to Naira, Euro to Naira, Dollar to Naira CBN rate and Dollar to Naira Bank rate today.

Related Posts

Standard Bank Securities: Banks under our coverage could pay N217bn as proposed windfall tax – The Cable News

By Bunmi Aduloju The Standard Bank Group (SBG) Securities says banks under its coverage could pay N217 billion in the proposed windfall tax. In a report on Thursday,…

Central Bank’s Misguided Policies Under Cardoso Have Worsened Naira, Strangled Nigerian Economy – Civic Organisation – Sahara Reporters

By Sahara Reporters The Nigeria Must Win Network (NMWN), a civil society, has stated that interventions under the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso’s leadership…

Alleged N17.8bn Debt: Court Orders CBN, EFCC to Investigate Afex Accounts in 28 Banks – This Day News

By Wale Igbintade A Federal High Court in Lagos has ordered the Central Bank of Nigeria (CBN) and the Economic and Financial Crime Commission (EFCC) to carry out…

CBN resumes dollar sales to BDCs, halts Naira depreciation – Vanguard News

By Babajide Komolafe Directs BDCs to sell at N1,471/$ The Central Bank of Nigeria, CBN yesterday, announced the resumption of dollar sales to bureaux de change, BDCs, a development that…

CBN projects external reserves to dip in 2024 – Punch News

By Oluwakemi Abimbola The Central Bank of Nigeria has projected that the external reserves could reduce slightly in 2024 on the back of debt service and other obligations. This…

BoI to invest in green financing, modular refineries – Daily Trust

By Philip Shimnom Clement As part of initiatives designed to maximise growth and boost local investments, the Bank of Industry (BoI) has announced that it will explore new…