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    MarketForces Africa » Uncategorized » FG to Support States Affected by Flood with N3bn

    FG to Support States Affected by Flood with N3bn

    Julius AlagbeBy Julius AlagbeAugust 25, 2024Updated:August 25, 2024 Uncategorized No Comments3 Mins Read
    FG to Support States Affected by Flood with N3bn
    Wale Edun, Finance Minister
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    FG to Support States Affected by Flood with N3bn

    The Federal Government says it will support states affected by flood with N3 billion to mitigate the effect of the menace. Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, disclosed this while interacting with journalists at the Government House, Birnin Kebbi on Sunday.

    The minister spoke shortly after inspecting some areas affected by flood in Kebbi. Edun said: “I will announce here that the National Economic Council has been proactive and has taken action in order to support all the states of the federation and the FCT with N3 billion to mitigate the effect of flood this year.

    “That will put many states like Kebbi in a good position to be able to prepare their farmers to the all important dry season farming, which we anticipate will be successful, well planned and well implemented.”

    This, he said, would lead to success, paving way for food availability at reasonable affordable prices, adding that it would lower inflation and help to further stabilise the economy. He expressed President Bola Tinubu’s willingness to assist them to maintain its level of security, resilience and to improve and increase its productivity and become the food basket of Nigeria.

    Also speaking, the Minister of Economic Planning, Sen. Atiku Bagudu, lamented that the flooding had affected many local governments beyond what he saw when he visited the areas recently. He, however, commended the resilience and confidence of Kebbi people, assuring that they would be mobilised to do better during the dry season farming.

    The minister said that apart from the N3 billion, the federal government had approved a Renewed Hope Infrastructure Fund that would be used for funding, among other things, the Badagry – Sokoto road.

    “Kebbi is going to host the longest stretch of that road. Equally, irrigation and dams are important feature of that renewed hope infrastructure fund.

    “So, irrigation facilities are going to be expanded along the whole stretch of the 1,000 kilometer road and significant part of the irrigation support will be in Kebbi,” he said. On his part, Gov. Nasir Idris, pleaded with the federal government to assist the state in view of the fact  that many rice farmlands in the state had been submerged by the flood.

     He said: “They have gone to Wacot Rice Mill in Argungu and they have seen things by themselves. They also visited Matan Fada in Argungu and they have seen how the flood affected rice farmlands.

    “Kebbi is the leading rice farming state in the country, because it is an agrigarian state.” The governor appealed to the two ministers to discuss with the president on how to assist Kebbi, saying that the state had the capacity to feed the entire nation and beyond.

    According to him, in an effort to boost national food security, the state government has distributed fertilisers, seedlings, solar pumps, and CNG pumping machines to over 35,000 farmers free-of-charge. He, however, said the rainy season came with a lot of challenges, with flood destroying farmlands.

    “Therefore, we want the federal government to come to our aid because rice season farming is approaching.

    “Already, we have started mobilising our farmers that immediately after the wet season harvest, the government is always ready to assist them  to go back for dry season farming,” he noted. #FG to Support States Affected by Flood with N3bn CBN Defends Naira with $39m in Forex Market

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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