The Board of Trustees of the Enugu State Security Trust Fund (ESSTF), says it is looking to raise N5 billion annually to be able to meet its target of N20 billion over the next four years.
Chairman of the board, Dr. Ike Chioke made this known on Thursday during the media launch of the Trust Fund, ahead of the official launch of the fund slated for November 21 2024.
Recall that Governor of Enugu State, Dr. Peter Mbah, had in February, inaugurated the ESSTF, made up of an 11-member BOT, with a target of raising N20 billion to be used in the fight against insecurity in the state.
In his address, Chioke explained that the fund, when raised, will be used to fund Personnel welfare, empowerment of vigilant groups, purchase of security vehicles, purchase of additional weaponry, CCTV system architecture and street light systems, support to security agencies, publicity and fund raising events.
“For 2024, we anticipate N750 million from the state government, leveraging a portion of its annual security vote, N1 billion from the 17 local governments, N2.5 billion from corporate entities and N375 million from Individuals and diaspora,” he said.
He noted that over the next four, it is expected that corporate entities will contribute N10billion, State government N3 billion, local government N4 billion, Individuals and diaspora N1.5billion and others N1.5billion.
“Beyond financial support, we are also open to accepting suggestions that will help in achieving our objectives of Improving law enforcement capabilities, emergency response services and fortifying overall security infrastructure in Enugu,” he said.
In his address, Mbah reiterated that the fund was in line with his administration’s campaign promise and efforts to build on the successes achieved in the security of lives and property in the state.
Represented by Secretary to the state government, Chidiebere Onyia, Mbah explained that although the enabling Law was enacted in 2020, it was not activate till 2023 when his administration initiated vital amendments to the Law and also executed a Deed of Trust to pave the way for the appointment and inauguration of a BOT to bring the Trust Fund into full force.
“When we address insecurity, we will achieve economic growth and most importantly our target of growing the GDP from $4.4billion to $30 billion,” he said.
“With the fund, Enugu will also become a model for other states in the Southeast in terms of improving security of lives and boosting economic development.”
Gideon Arinze
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