The Federal Government has ordered the establishment of the Humanitarian and Poverty Alleviation Trust Fund, with $5 billion to be sourced annually to run the scheme. The decision to float the trust fund was ratified at the Federal Executive Council meeting presided over by President Bola Tinubu on Monday at the Presidential Villa, Abuja.
According to the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, the funds would go a long way in meeting any emergency situation in the country. The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, and other ministers were co-opted into the board to facilitate its smooth operations, especially fund-raising from donor organisations.
'Of course, it will involve the Minister for Finance and Coordinating Minister for the Economy, including other ministers that are relevant to the process. This is a flexible form of financing that is supposed to help Nigeria adequately respond to humanitarian crises and challenges as well as adequately address the issue of poverty in Nigeria. This, of course, is a victory for the poor and, indeed, would bring help and succour, which the Renewed Hope Agenda stands for.
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