The Federal Government has established a disaster relief fund to respond to emergencies, including flooding, as part of its efforts to better manage disaster preparedness and response.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this on Monday while briefing journalists at the Presidential Villa, Abuja, following a Federal Executive Council (FEC) meeting chaired by President Bola Tinubu.
Edun emphasised that, despite preventive measures, disasters are inevitable in this era of climate change, making it crucial to have a dedicated fund for swift response. “No matter the precautions, disasters will still happen, and we must be prepared. This fund will pool resources from various sectors to ensure timely intervention when disasters strike,” he said.
In addition, the FEC approved the economic stabilisation bill, based on the recommendations of the fiscal policy and tax reform committee.
Edun explained that the bill seeks to implement key reforms, including amendments to the companies income tax, aimed at stabilising and strengthening Nigeria’s economic framework
