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Tinubu approves trust fund to raise $5 billion every year to fight poverty

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Tinubu approves trust fund to raise $5 billion every year to fight poverty

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

 

Edu said, “Every year we hope to be able to raise at least $5 billion 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.

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Network8tv Special

Father’s unyielding pursuit: 2 years on, justice still eludes late Dowen College student

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Father's unyielding pursuit: 2 years on, justice still eludes late Dowen College student

In a poignant continuation of an unresolved tragedy, Sylvester Oromoni Snr, the father of the late Dowen College student who tragically passed away on November 30, 2021, remains resolute in his quest for justice. Two years after the 12-year-old’s demise, allegedly a result of severe health complications exacerbated by traumatic incidents at the Lagos-based school, the grieving father addressed reporters in Warri on Wednesday, November 29, 2023.

 

The ongoing legal battle surrounding the circumstances of Sylvester Oromoni Jr.’s death has left his body lingering in the morgue, awaiting justice’s delayed arrival. The father, undeterred by the passage of time, expressed his unwavering determination to see the pursuit of justice through to its logical conclusion.

 

Speaking from the heart, Sylvester Oromoni Snr conveyed the somber news of his son’s extended stay in the morgue during a press briefing in Warri. The 12-year-old’s untimely demise has been shrouded in allegations of physical abuse, including claims that he was forcibly given a concussion to drink by five senior students at Dowen College.

 

“As the father of the deceased, I cannot be tired or discouraged from pursuing justice. I have promised my son to get him justice even if it will take thirty years to achieve it,” Oromoni asserted, highlighting the enduring commitment to ensuring accountability for his son’s tragic fate.

 

November 30, 2023, marks the second anniversary of Sylvester Oromoni Jr.’s passing, yet the legal proceedings continue to unfold, leaving the grieving father in a prolonged state of uncertainty and sorrow.

 

Concluding his address with a heartfelt prayer, Oromoni extended his wishes for peace to all departed souls, including his late son. “May the soul of Sylvester Oromoni Jr. and all departed souls rest in perfect peace. Amen.”

 

The unresolved tragedy surrounding Dowen College underscores the pressing need for justice in cases of alleged abuse within educational institutions, sparking broader conversations about the safety and well-being of students in schools. As Sylvester Oromoni Snr persists in his pursuit, his resilience stands as a testament to the enduring fight for justice and accountability in the face of heartbreaking loss.

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Network8tv Special

Tinubu and King Charles III forge alliance against climate change at COP28

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Tinubu and King Charles III forge alliance against climate change at COP28

In a landmark encounter on the sidelines of the COP28 Climate Summit in Dubai, President Bola Tinubu of Nigeria engaged in a high-level meeting with His Majesty, King Charles III of England. The rendezvous, marked by shared commitment to environmental advocacy, signifies a significant stride in global collaboration to combat climate change.

 

His Majesty, known for his fervent advocacy on environmental issues, has consistently championed the cause, making this meeting a pivotal moment in fostering united efforts against the climate crisis.

 

President Tinubu took to Twitter to share his satisfaction with the outcomes of the meeting, characterizing it as a productive engagement with the 75-year-old monarch. In his tweet, he stated, “I had a productive meeting with His Majesty, King Charles III of England, who is also the Head of the Commonwealth and a passionate climate advocate.”

 

The discussions, held against the backdrop of the COP28 Climate Summit, centered on fortifying the partnership between Nigeria and the United Kingdom in addressing the pressing challenges posed by climate change. President Tinubu expressed optimism regarding the potential positive impact that collaborative efforts between the two nations could have on the future of the planet.

 

Acknowledging the need for a global standard in environmental stewardship, President Tinubu highlighted the significance of COP28 as a platform for nations to actively contribute to the ongoing global discourse on climate action. He emphasized the importance of setting an equitable standard for environmental responsibility.

 

“The meeting was a significant step in strengthening the partnership between Nigeria and the United Kingdom, and I am optimistic about the positive impact our joint efforts will have on our planet’s future as we look forward to setting an equitable global standard for environmental stewardship at COP28,” President Tinubu affirmed.

 

As the COP28 Summit progresses, the collaborative spirit exhibited by President Tinubu and King Charles III serves as a beacon of hope in the collective fight against climate change. Their joint commitment underscores the importance of global partnerships in addressing the urgent environmental challenges that impact nations worldwide.

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Entertainment

Funke Akindele, Chidi Mokeme, Chioma Chukwuka headline inkblot’s crime thriller “No Way Through” premiering on Amazon Prime Video

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Funke Akindele, Chidi Mokeme, Chioma Chukwuka headline inkblot's crime thriller "No Way Through" premiering on Amazon Prime Video

Inkblot Productions, a trailblazer in the Nigerian film industry, has unveiled the much-anticipated crime thriller, “No Way Through,” set to exclusively premiere globally on Amazon Prime Video this December. The star-studded cast includes Nollywood luminaries Funke Akindele, Chidi Mokeme, Chioma Chukwuka, Ikechukwu, Nengi Adoki, Seun Ajayi, Jnr Pope, Eso Dike, Roberta Oroma, and Sheggz Olusemo.

 

Directed by Inkblot CEO Chinaza Onuzo, the film explores the intricate balance between family, survival, and the risks taken in the pursuit of freedom. The storyline revolves around Jolade Okeniyi, a single mother employed as a driver for a local drug cartel. When confronted by the authorities, she faces a dilemma—become an informant against the cartel to secure her freedom and protect her daughter, risking deadly consequences.

 

Onuzo, who also penned the screenplay, expressed his enthusiasm for the project, stating, “I loved making No Way Through because it was an opportunity to explore the lengths people will go to for the people they love. In the film, we see this through the lens of a mother’s love for her daughter.”

 

The director commended the cast for delivering exceptional performances, especially highlighting the trio of Funke Akindele, Chidi Mokeme, and Chioma Chukwuka. Onuzo extended appreciation to collaborative partner Film One Studios and acknowledged Amazon Prime Video for providing a global platform for the film’s premiere.

 

Inkblot Productions, known for its commitment to storytelling excellence, has enjoyed recent success with critically acclaimed titles like the romantic comedy “Big Love” and the gripping thriller “A Weekend to Forget,” which recently concluded its successful cinematic run.

 

As “No Way Through” gears up for its Amazon Prime Video debut, audiences can anticipate a compelling narrative that delves into the complexities of love, sacrifice, and the unyielding spirit of those facing the challenges of life in the bustling cityscape of Lagos. Inkblot’s legacy of producing captivating stories continues to captivate audiences globally, cementing their reputation as a cinematic powerhouse in Nigerian cinema.

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