Economy
FG Budgets N2.5bn For Flooding in 2023
Federal Government moves to address flood in 2023, appropriated N2.5 billion
The federal government through the federal ministry of environment has budgeted N2.5 billion for flood-related issues across Nigeria in 2023. The sun is expected to be spent on flood prevention and management control.
According to the ministry of environment, a total of 68 new projects will be embarked on in 2023 across 21 states of the federation.
Some of the beneficiary states include Adamawa, Anambra, Osun, Kogi, Imo, Katsina, Oyo, Plateau, Nasarawa, Gombe, Ebonyi, Ondo, Borno, Abia, Edo, Kaduna, Ekiti, Ogun, Kogi, Niger, and the Federal Capital Territory.
A closer perusal of the budget proposal shows that a sum of N310 million will be expended on six different projects in Abuja while N297 million will be spent on thirteen projects in Anambra State.
Lagos, the economic nerve of the country was allocated N50 million for a single project of erosion control, the same as Akwa Ibom.
Oyo state has the least allocated fund of N20 million for a new erosion project followed by Niger state with a single project valued at N25 million.
Investors King had earlier reported that millions of Nigerians were affected by the ravaging flood which destroyed houses and farmlands.
According to the ministry of humanitarian affairs and disaster management, a total of about 1.4 million people are estimated to have been affected by the flooding while more than 600 people lost their lives in floods across different states of the federation.
Meanwhile, in late October, the International Fund for Agricultural Development, (IFAD) announced a $5 million grant to assist flood victims in Nigeria.
IFAD Vice President, Katherine Meighan disclosed this during a courtesy visit to the Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar.
IFAD showcases its concern over the plight of the victims of the devastating flood especially farmers in the rural area.
Similarly, the United Nations pledged to release $10 million to support flood victims across Nigeria.
According to a statement released yesterday, the International body through its agency, Nigeria Humanitarian Fund (NHF) noted that the fund will be used to provide water, sanitation, healthcare, shelter, and non-food items to almost 800,000 flood victims across the country.