In a move to enhance disaster response, the federal government has introduced a disaster relief fund targeting issues such as flooding.
This announcement was made by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, during a press briefing at the State House in Abuja following a meeting of the Federal Executive Council (FEC) led by President Bola Ahmed Tinubu.
Edun highlighted the inevitability of disasters in the context of climate change, stressing that despite preventive efforts, challenges will still arise. He underscored the necessity of mobilizing resources from various sectors to ensure readiness for future emergencies.
In addition to the fund, the council approved the Economic Stabilization Bill, which aligns with suggestions from the Fiscal Policy and Tax Reform Committee.
This legislation aims to implement key recommendations, including adjustments to the Companies Income Tax framework.
