The National Economic Council (NEC) has approved the release of over 83 billion naira under the Anticipatory Action Trust Fund (AATF) to address the recurring challenge of flooding across Nigeria.
The approval was granted at the NEC meeting chaired by Vice President Kashim Shettima at the Council Chamber of the State House, Abuja.
While addressing State House correspondents shortly after the meeting, the Governor of Cross River State, Bassey Otu, said a total of over 166 billion naira had initially been proposed for the Anticipatory Action Trust Fund.
However, he disclosed that NEC approved the sum of 83.2 billion naira.
The fund is expected to support proactive measures, including early warning systems, emergency preparedness, and other flood mitigation initiatives designed to reduce the devastating effects of seasonal flooding.
In addition, the Council noted the importance of the AATF in addressing disasters and emergencies across the country, underscoring the fact that NEC cannot continue to be seen as always taking reactionary measures with regard to emergency and disaster management.
Speaking at the meeting, Shettima said the President Bola Tinubu administration’s reform agenda must now produce visible results across the federation.
Shettima noted that the Council’s work must be judged by what changes in the lives of ordinary Nigerians, especially farmers, manufacturers, vulnerable citizens, unemployed young people and children who will inherit the country.
According to him, the agenda before the Council was not a new conversation, but a continuation of the national assignment with greater pressure for action and results.
On exports and production, he said Nigeria must stop relying on the export of raw materials while importing finished products from other countries.
He maintained that the country’s economic transformation depends on a complete value chain linking farms to factories, factories to standards, standards to ports, and ports to markets.