In a decisive move to address the increasing frequency of natural disasters, President Bola Tinubu has announced the establishment of a Disaster Relief Fund.
This directive was issued following the Federal Executive Council (FEC) meeting held on Monday.
During a media briefing, Minister of Finance and Coordinating Minister for the Economy, Wale Edun, emphasized the urgent need for specialized funding to tackle the challenges posed by climate change-induced disasters, citing recent events in Maiduguri, Borno State, as a stark example.
The city recently experienced catastrophic flooding that devastated nearly half of its area, resulting in loss of lives and significant damage to essential infrastructure.
Edun stressed that the Federal Government is committed to mobilizing resources from key stakeholders to support the newly created Disaster Relief Fund, ensuring adequate response to future emergencies.
“This is not just a response to a single event but a proactive measure to prepare for the realities of our changing climate,” Edun stated, highlighting the necessity for continuous funding to meet emerging demands.
Those in attendance at the meeting include the Secretary to the Government of the Federation, Senator George Akume, the National security Adviser, NSA, Mallam Nuhu Ribadu and the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila.