By Ibrahim Danladi

The Federal Executive Council (FEC) has given the green light for the establishment of the Humanitarian and Poverty Alleviation Trust Fund, which will receive an annual allocation of $5 billion to support its operations.

This momentous decision was reached during the FEC meeting chaired by President Bola Tinubu at the Presidential Villa in Abuja. The fund is intended to provide a substantial resource for addressing emergency situations in the country.

Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, emphasized the importance of the fund, stating that it will be instrumental in responding to humanitarian crises and poverty-related challenges. To ensure the smooth functioning of the trust fund, a governing board, including the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, and other relevant ministers, will be involved in fundraising efforts with donor organizations.

Edu stated, “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 succor, which the Renewed Hope Agenda stands for.”

In addition to this development, the FEC also ratified the protocol on the protection of the rights of older persons in Nigeria. This step affirms Nigeria’s commitment to safeguarding the rights of older individuals and ensuring they are not subjected to discrimination, aligning with the African Charter, which recognizes the rights and protection of older people.