The federal government has released the sum of N3bn each to the 36 States and the Federal Capital Territory to mitigate the negative impact of flooding during the 2024 rainy season.
The disbursement of the amount was confirmed by the Ministry of Finance in a statement made available to NewsNGR. The statement said the amount was provided to the states with a focus on supporting local farmers and safeguarding the agricultural sector.
It said the fund was in demonstration of President Bola Ahmed Tinubu’s commitment to local economic growth and disaster response.
The statement further said the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun during a visit to Kebbi State assured that the government would bolster economic alliances, address the impact of flooding on agricultural productivity.
It said this underscored the president’s commitment to strengthening local economies while also confronting the challenges posed by natural disasters.
Accompanied by the Executive Governor of Kebbi State Dr. Nasir Idris
as well as the Minister of Budget and Economic Planning, Senator Atiku Bagudu, Edun toured WACOT Rice Limited, a state-of-the-art rice processing facility located in Argungu which has an annual milling capacity of 120,000 metric tons.
The facility, the statement added, plays a crucial role in supporting thousands of farmers through an extensive procurement network and 8,000 strong out-grower farming programs.
It added that the company’s contributions are vital in boosting local rice production and driving economic growth in the region.
In addition to the facility tour, the Minister visited a rice farm currently grappling with the adverse effects of ongoing flooding, which poses significant risks to agricultural productivity in the region.
The statement added, ” Edun reaffirmed the federal government’s commitment to mitigating the impact of these floods, emphasizing the recent proactive measures facilitated by the National Economic Council (NEC) and the Executive Governor of the State, Dr Masir Idris which enabled the allocation of N3bn each to the 36 States of the Federation and the Federal Capital Territory.
“He explained that the funds are aimed at combating, mitigating, and preparing for the effects of flooding during the 2024 rainy season, with a focus on supporting local farmers and safeguarding the agricultural sector.
“The Minister commended the resilience and determination of the Kebbi State community, highlighting President Tinubu’s steadfast dedication to enhancing security and boosting productive capacity across the region.”
The statement said Edun urged continued investment from the private sector to further expand agricultural production and reinforce Nigeria’s position as a leading agricultural producer on the global stage
“The Minister’s visit to Kebbi State has reaffirmed the Federal Government’s dedication to supporting local farmers, mitigating the effects of natural disasters, and driving economic growth.
“The federal government’s proactive measures, combined with private sector investment, will enhance agricultural resilience, boost productivity, and solidify Nigeria’s position as a leading agricultural producer,” it added.