President Muhammadu Buhari has ordered the distribution of 150 trucks of rice seized by Nigeria Customs Service, NCS, to the 36 states of the federation.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said this on Monday, in Abuja, while answering questions from journalists at a news conference on the fiscal stimulus measures in response to COVID-19 pandemic and oil prices fiscal shock.
Ahmed revealed that the seized trucks of rice had been handed over to the Ministry of Humanitarian Affairs and Disaster Management for distribution to Nigerians.
She added that, the president also approved distribution of grains from strategic grain reserves across the country, and reduction of fertilizer price from N5,500 to N5,000 per bag.
She stated the price reduction was a measure to give subsidy to farmers in view with the economic crisis caused by COVID-19 pandemic.
“We don’t want to rush and announce measures that will end up benefitting only a few of the segments.
“Our interest is to make sure that as much as possible a lot of Nigerians are productive and have liquidity in their hands.
“This will help to increase the consumption thereby assist to improve the economy.
“This is not something we will announce in a hurry without consulting with the central ministry and also without consulting with the key participants in the sector” she added.