N600 Per Litre: State Governor Eases Fuel Costs With New Subsidy
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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market.
Borno State Governor, Prof. Babagana Zulum, has revealed plans to provide petrol at a subsidized rate to farmers in communities impacted by the Boko Haram insurgency.
The announcement was made during the weekend in Bama town, where the governor commenced the distribution of farming materials to over 5,000 farmers who had previously been displaced by the insurgents.
Source: UGC
Borno state subsidises petrol for farmers
The governor stated that petrol, which is sold at prices ranging from N1,000 to N1,200 per litre in Maiduguri, would be made available to farmers at a subsidized rate of N600.
He explained that the initiative is intended to ease the financial challenges faced by farmers in areas that have endured economic hardships and infrastructural damage caused by prolonged conflict.
He said:
"I want to announce to the general public that government will procure petroleum products and sell to the farmers at a subsidised rate, a litre of petrol is being sold in Maiduguri at the cost of about N1,200 but in’shAllah, henceforth for irrigation farmers this season a litre of petrol will be sold at the rate of N600.”
He highlighted that a similar program introduced last year in Damasak, located in Mobar Local Government Area, led to a notable increase in food production and improved living standards.
Alongside the petrol subsidy, Governor Zulum distributed various farm inputs, including 2,000 bags of blended NPK fertilizer, 1,000 water pumps, and 620 gasoline pumps.
Other distributed items included 380 solar water pumps, 1,000 sprayers, 800 rolls of two-inch flexible hoses, 1,000 liters of pesticides, and seeds.
Additionally, he noted that his administration had constructed over 100 tube wells for irrigation farmers and announced the approval for the construction of an additional 250 tube wells.
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Source: Legit.ng
