FG Approves Trillions for Disaster Interventions, Debt Payments and Abuja Infrastructure Projects

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The Special Adviser on Media and Publicity to the President, Mr Femi Adeshina said the Acting President, Prof. Yemi Osinbajo, has approved the sum of N1.6 billion as immediate intervention for the victims of flood disaster that has ravaged some parts in 16 states of the country over the week.

The states affected are Ekiti, Osun, Akwa Ibom, Kebbi, Niger, Kwara, Ebonyi, Enugu, Abia, Oyo, Lagos, Plateau, Sokoto, Edo, and Bayelsa states.

Mr Adeshina who made the disclosure yesterday while briefing newsmen after the Federal Executive Council meeting at the Presidential villa, Abuja, said that the money will be taken from the Federal Government’s ecological account at the Central Bank of Nigeria and that the Acting President, Prof. Yemi Osinbajo has directed the Minister of Finance, Mrs Kemi Adeosun to release the funds directly to the National Emergency Management Agency (NEMA).

Meanwhile, the Federal Executive Council also approved the sum of N2.7 trillion for the payment of outstanding debts owed workers and contractors for over 20 years.

The Minister of Finance, Mrs Kemi Adeosun disclosed that the payment will be made in bonds and promissory notes and that due process will be followed to ensure that only those who are genuinely owed are the only ones that will be paid. She explained that the payment will be stretched over a period of three years due to the huge amount involved.

Also, contract approvals were given at the council meeting to the tune of N159 million and N2.5billion for the engineering of the sewer line and the completion of Kabasa access road respectively at the Federal Capital Territory, Abuja.

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