Abiodun to tackle rising cost of living, inflation with N5bn

Gov Dapo Abiodun (middle) at the Press Conference

Ogun State Governor, Prince Dapo Abiodun has announced a N5 billion intervention fund to cushion the effect of rising cost of living and inflation in the State.

Addressing a press conference held at the Olusegun Osoba Press Centre, Governor's Office, Oke-Mosan, Abeokuta, Governor Abiodun said the fund would cover education, health, workers' deduction and food palliative.

He said: "As our administration acknowledges the concerns raised by many of our citizens regarding the rising food prices and shortages, coupled with the depreciation of the Naira, we identify with you and are taking proactive measures to alleviate the impact of these challenges to guarantee the welfare, well-being and wellness of our citizens in this difficult time.

"In this direction and through targeted interventions, we aim to address these challenges by implementing a series of phased initiatives aimed at alleviating these burdens on all our citizens.

"The State has taken the following steps: Education Sector: Providing a minimum of 5 exercise books for all 850,000 students in our public primary and secondary schools.

"We are providing a one-time N10,000 education support grant for at least 100,000 pupils in our public primary and secondary schools in the state. Providing all 27,600 indigent students in tertiary institutions nationwide with an education grant of N50,000 each."

He said his administration would  provide insurance health cover for over 70,000 beneficiaries to include pregnant women, children, the elderly, market women and other members of the informal sector while  pregnant women, under the Ibidero Scheme would be provided free pre-natal care, an additional N5,000 per birth and free post-natal care in the State Hospitals and Primary Health Care Centers across the State.

Governor Abiodun stated that provision would be made for food palliatives to include rice and other food items for about 300,000 households across the State. 

"The State Government will begin to offset the backlog of inherited deductions. To this end, we are immediately committing N500 million monthly payment towards outstanding deductions. It is noteworthy that we have continued to pay N10,000 transport allowance to all civil servants for the last 8 months.

"This brings our total immediate interventions as a responsible State Government to about N5billion across all sectors of the State economy," the governor submitted.

He noted that his administration would not be insensitive to the challenges being faced by the citizens, appreciating the people for their perseverance, patience and understanding.

"Let me assure you that the present economic situation is just a transient phase that will soon pass. Whatever we experience now are just necessary sacrifices that we have to make towards ensuring a greater tomorrow. 

"In a special way, we extend our appreciation to the President and Commander-In-Chief of Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Ahmed Tinubu, GCFR for his continuous efforts in navigating the complexities of our nation's economic landscape. 

"His dedication to steering the ship through turbulent times has not gone unnoticed," he concluded.