Nigerian govt approves creation of poverty trust fund, targets $5bn annually

The Federal Executive Council (FEC) on Monday approved the creation of a Humanitarian and Poverty Alleviation Trust Fund.

The Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, disclosed this to State House correspondents at the end of the Council’s meeting presided over by President Bola Tinubu in Abuja.

She said the initiative was aimed at cushioning the effects of the policies undertaken by the government since May 29.

READ ALSO: No reason for Nigerians to be poor, Tinubu reiterates stance in battling poverty

The fund, according to Edu, will enable the Federal Government to respond promptly to humanitarian situations in the country.

She said the government expects to generate at least $5bn into the trust fund annually.

The minister also revealed that the council ratified the protocol for the protection of the rights of old people in the country in line with the African Charter on the Rights of Older Persons on the continent.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now