President Bola Tinubu has approved the establishment of a Disaster Relief Fund, in response to the catastrophic impact of the recent flooding in Maiduguri, and some other neighbouring states.
Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, while briefing newsmen on the decision, said it was a result of careful discussions regarding the flooding in Maiduguri during the Federal Executive Council meeting.
Edun who emphasised the importance of pooling funds from various sectors and being prepared when disasters strike, assured that the government will be proactive in dealing with the issue of flooding.
Meanwhile, the minister also revealed that the council passed the Economic Stabilization Bill, which is largely based on the recommendations of the Fiscal Policy and Tax Reform Committee.
He explained that this bill is aimed at implementing the committee’s recommendations, including proposed amendments to the Companies Income Tax.
