FG to partner private sector to create disaster relief fund, targets FAAC allocation 

The federal government is looking to partner with the private sector to create a disaster relief fund in the wake of massive floodings that have rocked major parts of the country, especially the Northern states.

President Tinubu disclosed this during his trip to Borno state to condole with the people over the loss of life and properties following the collapse of the Alau dam and flooding of major parts of Maiduguri.

He stated that the fund was necessary due to the increasing unpredictability of the climate, which has left many parts of the country vulnerable. The Federal Government plans to collaborate with the private sector to establish the fund.

Senate President Godswill Akpabio, who accompanied the President, added that the National Assembly would work with the Executive to support the fund’s creation.

During his visit, President Tinubu also met with the Shehu of Borno, Alhaji Abubakar Ibn El-Kanem, visited an Internally Displaced Persons camp at Government Secondary School in Maiduguri, and toured disaster-affected areas.

He said, “After my visit to the Shehu of Borno and the IDP camp, I have been reflecting on how to tackle this kind of disaster and the effects of climate change. There must be a disaster relief fund.” 

“I will invite the private sector to team up with us and help rebuild the affected areas. If we take a small percentage from FAAC and put it as a disaster relief fund, which will include all of you, we will be activating and strengthening our sense of belonging,” 

Earlier, ThePressNG reported that Maiduguri is experiencing its worst flooding since 1994, with residents of Borno on high alert as rising waters have submerged numerous homes. The flooding has been attributed to the collapse of the Alau Dam, which had reached full capacity.

The federal government had already stated it would provide N3 billion as support to the 36 states in Nigeria.