Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Excess Banking Liquidity Drives 60% SDF Placement Surge, Rates Ease

    July 12, 2026

    FX Spot, Derivatives Markets Turnover Sinks by 47%

    July 12, 2026

    BUA Foods Momentum Pauses Ahead of Q2 Earnings

    July 12, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Excess Banking Liquidity Drives 60% SDF Placement Surge, Rates Ease
    • FX Spot, Derivatives Markets Turnover Sinks by 47%
    • BUA Foods Momentum Pauses Ahead of Q2 Earnings
    • IntBrew Gains 40%, Plans to Return Capital to Shareholders
    • Iran, Oman End Hormuz Talks Without Breakthrough
    • Ukraine Sets Russian Refinery Ablaze in Fresh Drone Attack
    • Naira Slides Amid Bullish Economic Growth Estimates, Robust FX Reserves
    • Before You Invest A Dime
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Monday, July 13
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    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
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    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

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Julius Alagbe
    • Website
    • LinkedIn

    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.

    Keep Reading

    Rwanda Spends $32m on Fuel Subsidies in 4 Months- Minister 

    FG Lists 2 Savings Bonds for Subscription in July

    Crude Oil Prices Ease as OPEC+ Boosts Output

    DisCos Meter 241,590 Customers in 2 Months –NERC

    Investors Trade 1.68bn Shares worth N109.4bn on NGX

    Hormuz Closure: Trump Dismisses Iran’s Offer as Oil Prices Surge

    Add A Comment

    Comments are closed.

    Editors Picks

    Excess Banking Liquidity Drives 60% SDF Placement Surge, Rates Ease

    July 12, 2026

    FX Spot, Derivatives Markets Turnover Sinks by 47%

    July 12, 2026

    BUA Foods Momentum Pauses Ahead of Q2 Earnings

    July 12, 2026

    IntBrew Gains 40%, Plans to Return Capital to Shareholders

    July 12, 2026

    Iran, Oman End Hormuz Talks Without Breakthrough

    July 12, 2026
    Latest Posts

    Rwanda Spends $32m on Fuel Subsidies in 4 Months- Minister 

    July 10, 2026

    FG Lists 2 Savings Bonds for Subscription in July

    July 9, 2026

    Crude Oil Prices Ease as OPEC+ Boosts Output

    July 6, 2026

    DisCos Meter 241,590 Customers in 2 Months –NERC

    May 22, 2026

    Investors Trade 1.68bn Shares worth N109.4bn on NGX

    May 13, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.