Federal Executive Council Unveils $5 Million Initiative to Transform Lives: Tackling Humanitarian Crises and Poverty Head-On
In a significant development, the Federal Executive Council has endorsed the creation of a $5 million annual trust fund dedicated to addressing humanitarian crises and alleviating poverty in Nigeria. Chaired by President Bola Tinubu, the council's approval of this initiative signifies a crucial step towards improving the lives of the underprivileged. The Minister of Humanitarian Affairs, Betta Edu, outlined the fund's governance structure, emphasizing its flexibility and potential to provide prompt assistance during crises. This visionary move aligns with the government's "Renewed Hope Agenda," offering hope and support to those in need.
Federal Executive Council Approves $5 Million Humanitarian and Poverty Alleviation Trust Fund
During the weekly meeting of the Federal Executive Council (FEC), President Bola Tinubu announced the unanimous approval of a groundbreaking initiative aimed at addressing humanitarian needs and poverty reduction in Nigeria. The FEC endorsed the establishment of an annual trust fund with a budget of $5 million for this purpose.
Minister of Humanitarian Affairs, Betta Edu, took the podium after the meeting to provide further insights into the initiative. She revealed that the trust fund would be overseen by a governing board comprising relevant ministers, including the Minister of Finance. Edu emphasized that this financing mechanism was designed to offer flexibility and agility in responding to humanitarian crises and poverty-related challenges within the country.
Edu expressed her optimism regarding the positive impact this initiative would have on the impoverished population of Nigeria, aligning it with the government's "Renewed Hope Agenda." She underlined the significance of this move, emphasizing the potential relief and support it could bring to the underprivileged.
In addition to this groundbreaking financial commitment, Edu also disclosed that the council had formally endorsed the ratification of a protocol designed to safeguard the rights of the elderly in Nigeria. By signing up for the African charter, Nigeria has demonstrated its commitment to protecting and preventing discrimination against older citizens. Edu highlighted the administration's dedication to their welfare and rights.
This initiative has its roots in Minister Edu's presentation at the 78th United Nations General Assembly in New York, where she first unveiled plans for the trust fund. It is anticipated that 30% of the funding will be provided by the federal government, with the remaining 70% to be sourced from donor agencies. The Minister emphasized that a well-structured governance system will be implemented to ensure transparency and accountability in the allocation and utilization of the fund.
