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Business News of Thursday, 8 September 2022

Source: www.punchng.com

FG approves social investment bill

Hajiya Sadiya Farouq Hajiya Sadiya Farouq

The Federal Executive Council, on Wednesday, approved the National Social Investment Programme Establishment Bill, 2022.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, disclosed this to State House Correspondents shortly after the Federal Executive Council meeting presided over by the President, Major General Muhammadu Buhari (retd.), at the Presidential Villa, Abuja.

According to Farouq, the Executive Bill ratifies the NSIP, establishing it as an institution to drive the regime’s agenda to lift 100 million Nigerians out of poverty by 2030.

The minister also revealed that the council approved the National Flood Emergency Preparedness and Response Plan for Nigeria to ensure a more resilient and effective response to tackle flooding nationwide.

She said, “You will agree with me that this plan comes at a time where floods are at its peak in the country and the impact is leading to the loss of lives, destruction of properties, the loss and stagnation of livelihood, and damage to our environment.

“So, therefore, the plan seeks to make Nigeria a nation that is more resilient and to scale effective response measures. We shall activate and leverage existing tools and equipment, human and financial resources to tackle this. We call on all states and operational stakeholders to implement the plan so that we can return to normalcy and protect our national development. The council graciously approved this plan today.

“The other memo is a memo which sought council’s approval of the National Social Investment Program establishment Bill, 2022. This bill is going to give legal backing to the National Social Investment Program. This submission is to create a national social investment programme as an agency in line with Mr Pesident’s agenda to lift 100 million Nigerians out of poverty by the year 2030. And today, the council has approved the establishment of this bill thereby institutionalising the National Social Investment Programme.”

Meanwhile, FEC also approved N829.89m as the revised estimated cost for the rehabilitation of the Nkwo-Inyi-Akpugoze road linking Anambra and Enugu States in the country’s Southeast.

The Minister of State for Works and Housing, Umar El-Yakub, said “The Federal Ministry of Works and Housing presented a memorandum seeking Council’s approval for the revised estimated total cost of contract for the rehabilitation of Nkwo-Inyi-Akpugoze road in Anambra State’s border with Enugu State.”

Fielding a question on the dilapidated Ekpoma-Benin Expressway, the minister assured Nigerians that measures are underway to fix the road, but the rainy season is impeding the progress of works.

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