Rising from the Federal Executive Council, FEC, meeting on Monday, President Bola Tinubu has directed the creation of Disaster Relief Fund.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun made the disclosure while briefing the media.
He said based on the fact that disasters such as the Maiduguri flooding will likely become a regular occurrence because of climatic changes, there is need for specialised kind of funding to meet emerging demands and challenges associated with the phenomenon.
Recall that Maiduguri in Borno State witnessed an unprecedented flooding that consumed half of the city, killing some citizens and destroying critical infrastructure.
Edun noted that the Federal Government will do all in its powers to rally funding from critical stakeholders for the Disaster Relief Fund.