• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, May 30, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria gets $5bn humanitarian, poverty alleviation trust fund

Poverty

The Matters Press by The Matters Press
October 24, 2023
Reading Time: 2 mins read
0
Poverty in West Africa increases by 3%

Abuja, Oct. 24, 2023: The Federal Executive Council (FEC) has approved the establishment of the Humanitarian and Poverty Alleviation Trust Fund to raise 5 billion dollars annually.

RELATED POSTS

Tinubu explains mission as he marks second year in office

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

The Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, disclosed this while briefing State House Correspondents on the outcome of the FEC meeting, held on Monday, at the Presidential Villa, Abuja.

Edu said ” every year we hope to be able to raise at least 5 billion dollars within this fund and this is from the various fund and sources.

“We are hopeful that with the creation of this funding, we can sit down with all the key stakeholders including other ministries and actually work out the full modalities of implementation in Nigeria”.

The minister expressed gratitude to President Bola Tinubu for the approval for the creation of the Humanitarian and Poverty Alleviation Trust Fund.

” The council approved for the establishment of the Humanitarian and Poverty Alleviation Trust fund to actually be put together under a governing board.

“And then of course, the implementation of that humanitarian and poverty trust fund, would be carefully worked out by members of the committee.

” Of course, it will involve the Minister of Finance and 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 crisis.

“This will also respond to challenges as well as adequately address the issue of poverty in Nigeria and bring victory for the poor and indeed, bring help and succor which the Renewed Hope Agenda stands for,” she said.

Edu further said that the fund was a flexible form of financing that could help the government get contributions from different sectors.

She added that the fund would get contributions from the government, private sector, development partners, philanthropic individuals and other innovative form of funding.

” This is to allow for emergency response to humanitarian crisis in Nigeria. Every other day we hear about crisis, the flood and the rest of it. So we need to be able to respond adequately as a country.

” Beyond this, the issue of poverty reduction is one of the agenda of the President Bola Tinubu in his eight point agenda and we have to tackle it headlong,” she said

The minister also revealed that the FEC has ratified the protocol on the protection of the rights of older persons in the country.

” The Federal Executive Council, where the chairman of Council and members of council took decisions to ratify the protocol on the protection of the rights of older persons in Nigeria.

” We have signed up to the African Charter and this has made us one of the countries within Africa that has approved that older people be protected and should not be discriminated against at any level.

” And this gives them a lot of protection and the government of President Bola Tinubu is interested in their welfare and protecting their rights,” the minister said.

Tags: PovertyTrust Fund
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Court visits Patience Jonathan’s money palaver
Economy/Technology

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

May 20, 2025
Next Post
Nigeria showcases minerals to woo investors

Draft policy on solid mineral gets FEC’s approval

UK court reverses $11bn awards, Nigeria happy over foiled fraud attempt

UK court reverses $11bn awards, Nigeria happy over foiled fraud attempt

Recommended Stories

Rice farmers from poverty to wealth

Nigeria targets 40,000 rice farmers in Kano State

April 11, 2022
Experts seek implementation of economic development plans

Expert pushes for reforms to address declining economic sectors

November 28, 2022
NGO kicks against visa for Atiku

Atiku enters U.S afterall

January 18, 2019

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu explains mission as he marks second year in office
  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms
  • Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us