 The Federal Executive Council has approved the creation of the Humanitarian and Poverty Alleviation Trust Fund under a Governing Board. The Minister of Humanitarian Affairs and Poverty Alleviation Beta Edu, who stated this while briefing state house correspondents, said the fund is a flexible form of financing as an emergency response to humanitarian crisis and addressing poverty in Nigeria. The federal government hopes to raise at least five billion dollars annually into the trust fund from various sources, including government, private sector, development partners, philanthropic individuals and other innovative forms of pool funding. The governing board will include the minister of finance and other top government officials that may be relevant to the trust fund. Grateful to President Bola Medtinubu today for the approval given to the creation of the Humanitarian and Poverty Alleviation Trust Fund. This is a flexible form of financing that can help us get contributions from different sectors. So we're going to have contribution from government, of course from the private sector development partners individuals, philanthropic individuals and other innovative forms of crowd funding and pooling of funds together. This is to allow for emergency response to humanitarian crisis in Nigeria. Every other day we hear about crisis, the floods and the rest of it. We need to be able to respond adequately as a country. Beyond this, the issue of poverty elevation is one of the agendas of President Bola Medtinubu in his eight point agenda and we want to be able to tackle it headlong. How much are we looking at? Every year we hope to be able to raise at least five billion dollars within this fund and this is from the various sources that I've mentioned and even more. The ministers of finance, education and solid minerals also disclose various approvals given by the executive council to their respective ministries including financing to reduce the number of out-of-school children and the deployment of technology and security to curb illegal mining across the country. Financing for the girl child, $700 million is the size of the current project. About $10 billion I had said that in terms of the earlier today that in terms of the all-important liquidity in the foreign exchange market to get it to start functioning where demand and supply can at least equit around a relatively stable price which is what investors, manufacturers and indeed the general public require. And we've also traced incidents of banditry to the handiwork of illegal miners especially foreign illegal miners. Some notorious foreigners who come to our nation sponsor banditry in the local areas with the view to driving away the local population and then moving in to start extracting exploration and extracting minerals is technology that is helping us to decipher all of this. So we are investing more heavily in injection of technology into a security architecture and that's making a huge difference. Like I said I mean it's the same amount of money which the finance minister referred to so it is not a different source and it's a very big intervention and enlargement of an existing policy. The government is concerned, our president is concerned that no girl should be out of school on grounds of poverty and particularly at the foundation level of pre-tashari education, the basic education level in secondary schools and under that scheme we'll be having close to 500 new schools across the country especially the participants. notification button so you get notified about fresh news updates