The 7th National Economic Council (NEC), led by Vice President Kashim Shettima, has approved the findings of the Presidential Committee on Flood Mitigation, Adaptation, Preparedness, and Response.
The committee’s recommendations include the endorsement of an annual budget for the State, Federal, and Local governments on flooding and the establishment of a National flood management council to be domiciled in the office of the Vice President.
Briefing State House Correspondents after the 37th meeting of the Council, the Chairman of the Committee, the Governor of Kogi State, Yahya Bello stated that the committee also suggested emergency climate sensitive budget approach addressing flood crisis in the country.
“Given that flood management is cross cutting and multi sectoral requiring a comprehensive structure guided by strong frameworks and policies, the committee recommended the establishment of a National flood management council to be domiciled in the office of the Vice President.
“On the advice of the proposed council, the President should declare a state of emergency when a category 4 flood occurs” Governor Bello added.
On funding options, the Committee Chairman disclosed that it recommended Natural Resource Development Fund , to mitigate and immediately respond to flood crisis in Nigeria.
“Annual budgetary provision for federal, State and Local Government, Ecological fund, immediate response and strengthening of data management for effective early warning”
Further speaking on the adoption of the Flood Committee report, the Minister of Budget and Planning, Atiku Bagudu , disclosed that the Governor of Borno State, Professor Babagana Zulum had made available six pivot irrigation schemes, each costing $250,000 to support other states that are desirous of utilizing them to support additional production and pastoralist population.
Bagudu added that Governor Zulum has also provided two drilling rigs that are capable of drilling up to 2000 meters, he added that this is to support other States.
“Very noteworthy item on the agenda today was an announcement by His Excellency, the Vice President, that the governor of Borno State His Excellency Professor Babagana Zulum had made available from an inventory they are holding six pivot irrigation schemes, each costing $250,000 to support other states that are desirous of utilizing them to support additional production and pastoralist population.
Equally, he has made available two drilling rigs that are capable of drilling up to 2000 meters so that states that wish to avail themselves of such support can be can make use of them” The Minister added.
Giving update on Excess Crude Account, the Deputy Governor of Enugu State, , Ifeanyi Ossai , stated that as at September 2023, the excess crude account stood at $473,754.57 , Stabilisation as at September ,2023 is N37,597,965,211.43, while the Current Balance of Natural Resources is N144,683,136,928.25.
Ossai further speaks on the presentation of the Minister of Finance on budget support facilities for states; outstanding Liability for the FCT stands at N49,105,873,326.75, and for the 36 States, it is also at the same value of N49,105,873,326.75, these total N1,718,705,566,436.25.
Oyenike Oyeniyi
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