Would you like to receive notifications on latest updates of the following headlines?

FEC release disaster relief fund for swift emergency response

POSTED ON September 23, 2024 •   Business      BY Abiodun Saheed Omodara
From left: President Bola Tinubu; Minister of Justice. Lateef Fagbemi (SAN); Minister of Finance and Coordinating Minister of the Economy, Wale Edun and Minister of Agriculture and Food Security, Sen Abubakar Kyari during March's Federal Executive Council meeting at the Presidential in Abuja on 25th March 2024

The Federal Executive Council has approved the creation of a Disaster Relief Fund to enable prompt and effective assistance to victims of disasters across the country.

This initiative will enable timely relief and recovery efforts across the country, streamlining support for communities affected by floods, fires, and other emergencies.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this on Monday while briefing State House Correspondents shortly after the FEC meeting chaired by President Bola Tinubu at the Presidential Villa in Abuja.

Edun said, “The Fund will source finances from the three tiers of government and private sector players for flood victims.”

The minister also disclosed that the council has constituted a Technical Committee to reassess the dams across the country, particularly the Alau Dam in Maiduguri, the capital of Borno State.

According to Edun, the committee is to be chaired by the Minister of Water Resources, Professor Joseph Utsev, and has other members.

Recall  that the Borno capital was flooded two weeks ago following the collapse of the Alau Dam, a critical infrastructure designed to regulate water flow and provide irrigation and drinking water.

  According to the National Emergency Management Agency, over 70 per cent of Maiduguri was submerged by the fast-moving water, displacing over a million residents and resulting in 30 casualties.

 

READ ALSO
FG signs $174.6M agreement with UNIDO to enhance Nigeria's industry
BY Abiodun Saheed Omodara April 3, 2025 0

The Federal Government and the United Nations Industrial Development Organisation (UNIDO) have enter...

READ ALSO
FG signals tough stance on underdeveloped Oilfields, calls for strategic IOC investments
BY Abiodun Saheed Omodara April 2, 2025 0

The Federal Government expressed its worries on Tuesday about the growing number of idle and underde...

READ ALSO
Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 2, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...

READ ALSO
CBN's strategic policies lead to significant increase in Nigeria's Net FX reserves
BY Abiodun Saheed Omodara April 2, 2025 0

Nigeria's net foreign exchange reserves (NFER) stood at $23.11 billion at the conclusion of the prev...

READ ALSO
NSIA reports ₦3.74Trn profit, celebrating 12 years of continuous profitability
BY Abiodun Saheed Omodara April 1, 2025 0

ABUJA, Nigeria - THE Nigeria Sovereign Investment Authority (NSIA) reported generating approximately...

READ ALSO
Insurance leaders advocate for AfCFTA adoption to drive economic progress
BY Abiodun Saheed Omodara March 21, 2025 0

Stakeholders within the insurance sector have urged operators to capitalize on the African Continent...

READ ALSO
Nigeria's Debt Soars: To exceed N155 Trillion by 2025 amidst economic strain
BY Abiodun Saheed Omodara March 21, 2025 0

The United Nations Conference on Trade and Development (UNCTAD) has indicated that many countries, p...

READ ALSO
Petrol prices at risk of increase as Dangote refinery suspends Naira sales
BY Abiodun Saheed Omodara March 20, 2025 0

ABUJA, NIgeria - The cost of Premium Motor Spirit (PMS), commonly referred to as petrol, may increas...

OUR CHANNELS:

OpenAI valuation hits $300 billion after SoftBank-led fund
BY Abiodun Saheed Omodara April 2, 2025 0

The Japanese telecommunications company, alongside a group of investors, has recently announced yet...


Fuel prices expect to fall below N750 by Year-End - NIPSS
BY Abiodun Saheed Omodara April 3, 2025 0

The National Institute for Policy and Strategic Studies (NIPSS) has said that with Dangote Refinery...


Nigeria imposes N20m fine, 10-Year Jail Term for Ponzi scheme offenders
BY Abiodun Saheed Omodara April 2, 2025 0

The Securities and Exchange Commission (SEC) has stated that promoters and operators of Ponzi scheme...


South Korea launches second phase of educational initiative in Ekiti smart school
BY Abiodun Saheed Omodara April 2, 2025 0

EKITI, Nigeria - The South Korean government is poised to initiate the second phase of its education...


NFF denies resignation rumors surrounding Super Eagles coach
BY Abiodun Saheed Omodara April 3, 2025 0

The Nigeria Football Federation (NFF) has refuted claims that Super Eagles coach Eric Chelle is cons...


CPPE raises concerns over proposed ban on solar panel imports amid Nigeria's energy crisis
BY Abiodun Saheed Omodara April 2, 2025 0

The Centre for the Promotion of Private Enterprise (CPPE) has raised alarms regarding the government...


Kano praises Emir Sanusi II’s leadership qualities in reinstatement ceremony
BY Abiodun Saheed Omodara April 3, 2025 0

KANO, Nigeria - Governor Abba Kabir Yusuf has stated that his government reinstated Khalifa Muhammad...


CBN's strategic policies lead to significant increase in Nigeria's Net FX reserves
BY Abiodun Saheed Omodara April 3, 2025 0

Nigeria's net foreign exchange reserves (NFER) stood at $23.11 billion at the conclusion of the prev...


Adeyeye urges capital punishment for drug traffickers amidst N1trn confiscation
BY Abiodun Saheed Omodara April 3, 2025 0

The ongoing fight against counterfeit and substandard medical products by the National Agency for Fo...


FG highlights need for data sharing, collaboration to tackle border crimes
BY Abiodun Saheed Omodara April 2, 2025 0

Nigeria has called for cooperation with Sahel and West African nations regarding information and dat...


More Articles

Load more...

Menu