President Bola Tinubu announced this on Tuesday in the National Broadcast to mark the nation’s 64th Independence Anniversary. He said the measure is aimed at averting future disasters.
Tinubu particularly expressed deep concern over the flood that destroyed lives and properties in Maiduguri, the capital of Borno and promised to ensure that there was no repeat of such.
“Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country.
“After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble.
“At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies.
“Our government has also ordered integrity tests of all our dams in the country to avert future disasters,” he said.
Tinubu also emphasised the need for Nigerians to support government efforts and policies targeted at improving living conditions. He also spoke on current reforms aimed at improving the nation’s economy.
“What we are doing is to retool our economy to serve us better.
“We are also looking at more sustainably.
“If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.
“Thanks to the reforms, our country has attracted foreign direct investments worth more than $30 billion in the last year.
“We are committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes.
“This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively,” he added.
