Governor Mai Mala Buni has given approval for N695.9 million to be distributed as Eid-el-Kabir incentives.
The goal of the action is to lessen the financial burden that Yobe State’s retirees and civil servants are under while they attempt to enjoy a significant annual event.
The state’s Permanent Secretary in the Office of the Head of Service, Alhaji Bukar Kilo, made this announcement to media on Tuesday in Damaturu.
The statement said that N320 million of the property is reserved for state government employees and pensions, while N375.9 million is set aside for local government employees and pensions
Each staff member is slated to receive N10,000, while pensioners will be granted N5,000 each.
Kilo stressed that the primary objective behind this gesture is to cushion the economic hardships endured by the populace within the state.
He urged beneficiaries to reciprocate this goodwill by maintaining dedication to their duties and offering prayers for the success of Governor Buni’s administration in Yobe State.
What you should know
This disbursement comes against the backdrop of a concerning trend in ram prices in different states.
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Ram sellers in Badagry, Lagos state have reported sluggish sales as costs soar, reaching as high as N750,000 for a large ram.
Various ram markets are witnessing significant fluctuations in prices, leaving both sellers and buyers frustrated.
In some markets, large rams are fetching prices as high as N750,000, while medium-sized rams range between N350,000 and N400,000.
In contrast, others like the Agbalata market present a slightly different scenario, with big rams priced at N400,000 to N450,000, medium-sized ones at N250,000 to N300,000, and smaller rams at N120,000 to N150,000.
The economic strain is palpable, with sellers attributing the steep prices to exorbitant transportation costs. Last year’s high prices have been surpassed this year, largely due to the removal of fuel subsidies, which has spiked transportation costs.
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This situation is emblematic of broader economic challenges facing Nigeria, characterized by soaring inflation rates and food prices.
The country grapples with a cost-of-living crisis, with inflation at a 28-year high of 33.69% and food inflation nearing 34%.
Disruptions in global supply chains, exacerbated by conflicts in the Middle East and Europe, have led to nearly 100% increases in staple food prices since last year.
The depreciation of the naira following the unification of the foreign exchange market has further compounded these challenges.
In light of these economic realities, the Eid-el-Kabir bonus provided by the Yobe State Government aims to offer financial relief to its civil servants and pensioners amidst turbulent times.
