FEC Approves Creation Of $5bn Humanitarian, Poverty Alleviation Trust Fund

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

FEC Approves Concession Of ‘Colonial’ Central Workshop In Ijora

The Federal Executive Council has approved the concession of the Central Workshop Ijora to a private sector firm for rehabilitation and optimal operation under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC). According to a statement signed by Head, Media and Publicity, Manji Yarling, it is the First Public Private Partnership (PPP) projects to be approved under the new administration of H.E. President Bola Ahmed Tinubu. The concession which will adopt a Rehabilitate-Operate-Maintain-Transfer PPP model seeks to upgrade the Central Workshop to ensure its functions are realized. With the Federal Ministry of Works as Grantor, the project which is an unsolicited project (Privately Initiated Infrastructure Proposals – PIIP) by, Beta Transport Nigeria Limited is expected to generate NGN 28.1 billion within a 20-year concession period. The Central Workshop, Ijora, Lagos (“CWI”) was an appendage of the defunct Public Works Department (PWD). The PWD was the agency of the Colonial Government responsible for building and maintaining government buildings and property, roads, rail tracks, bridges, harbours and aerodromes. During the colonial era, the Workshop was used for the maintenance of vehicles, sewage treatment plants, and water supply equipment. It also provided technical advice to other departments in the Colony. Presently, the workshop is not operating optimally hence, the need to engage private sector participation. With the approval by FEC, the concessionaire will ensure that productive and professional work will be carried out in the workshop in line with standard guidelines and operating procedures via the provision of modern equipment. The concessionaire will also ensure that the workshop runs at the highest standard of operational excellence and in all restore past reputation of engineering productivity and excellence. The activities of BETA will complement the mandate of the Engineering Services Department of the Federal Ministry of Works for the fabrication of mechanical tools, products, poles, foundry items amongst others. The rehabilitation of this workshop will also provide repair services to most of the run-down trucks and vehicles which would have otherwise been left parked on the roadsides, which will in turn decongest the roads in this area.