The Federal Government has established a disaster relief fund to address incidents such as flooding.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this to State House correspondents on Monday after the Federal Executive Council (FEC) meeting, which was presided over by President Bola Tinubu.
According to the minister, disasters are bound to occur in this era of climate change no matter the prevention measures put in place.
He emphasised the importance of pooling funds together from various sectors and preparedness to address emergency disaster situations.
Edun also revealed that the council passed the Economic Stabilisation Bill, largely based on the recommendations of the Fiscal Policy and Tax Reform Committee.
He explained that this bill aimed at implementing the committee’s recommendations, including proposed amendments to the Companies Income Tax.
In addition, the Minister of Environment, Joseph Ustev, announced that the Federal Government has set up a committee to assess all dams in the country.
