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FG approves creation of poverty trust fund, targets $5bn annually
The Federal Executive Council (FEC) on Monday approved the creation of a Humanitarian and Poverty Alleviation Trust Fund.
The Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, disclosed this to State House correspondents at the end of the Council’s meeting presided over by President Bola Tinubu in Abuja.
She said the initiative was aimed at cushioning the effects of the policies undertaken by the government since May 29.
The fund, according to Edu, will enable the Federal Government to respond promptly to humanitarian situations in the country.
She said the government expects to generate at least $5bn into the trust fund annually.
The minister also revealed that the council ratified the protocol for the protection of the rights of old people in the country in line with the African Charter on the Rights of Older Persons on the continent.
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