Following the recent flood disaster in Borno State, President Bola Tinubu on Monday directed the creation of a Disaster Relief Fund.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun made the disclosure while briefing the media on the outcome of Monday’s Federal Executive Council meeting.
He said since disasters such as the Maiduguri flooding will likely become a regular occurrence because of climatic changes, it is imperative to create specialised kind of funding to meet emerging demands and challenges associated with the phenomenon.
Recall that the Maiduguri flooding was an unprecedented disaster that submerged half of the city, killing some citizens and destroying critical infrastructure.
Edun noted that the Federal Government will do all in its powers to mobilise funding from critical stakeholders for the Disaster Relief Fund.
