The deputy first minister says: "We do want people to take this seriously."

Emma Little-Pengelly adds that she wants everyone to "follow the advice" that has been given.

She continues to urge people to "make sure you prepared by staying are up to date."

"Experienced emergency teams are ready to respond to the developing situation."

The first minister says preparations are in place across government for the impact of the storm.

Michelle O'Neill reiterates advice for people not to travel during the red warning.

She adds that the health service are working on "urgent contingency plans" for patients and staff, but says that if someone needs emergency medial care they should contact the health service.

The second press conference of the day with the first and deputy first ministers and PSNI ACC Davy Beck is starting now.

You can now click on the Watch Live button at the top of the page to tune in.

The Police Service of Northern Ireland has advised members of the public to take all necessary precautions to keep themselves safe.

"It is anticipated that this storm will bring the strongest winds experienced in Northern Ireland since the 1998 Boxing Day storms which caused widespread damage across infrastructure and impacted on almost all public services," a police statement says.

Police are asking the public not to travel during this time and to remain indoors.

The PSNI issued the following advice:

• Ensure your devices are charged so that if you need help, you have a mechanism to use
• Ensure you have emergency lighting such as torches easily accessible in the event of power cuts
• Have ready access to additional blankets or sources of warmth in the event your heating supply is disrupted
• Make checks with your vulnerable family, friends and neighbours to ensure they have adequate provisions in place if carers and so on cannot reach them
• In an emergency call 999

Killian O’Kelly, of the RNLI, says both coastal waters and inland waterways will be dangerous and unpredictable as a result of stormy weather tomorrow.

He urged people to stay away from activities near water if they can.

“We have a lot of people who have routines, where they walk or they swim each morning,” he told BBC Radio Ulster’s Talkback programme.

“The problem with this sheer volume of wind that we are going to get is that it makes the entire bodies of water unpredictable.

“You could be 200m away from the water in our coastal areas and a surge could move that water right up to you in a matter of seconds.

“That only happens in a storm and then a person can get caught out.

“When we say stay back, we mean way back.”

All public libraries, mobile libraries and administration centres will be closed tomorrow, Libraries NI says.

There will also be no homecall service and out of hours services will not be operational from Thursday evening until Monday morning, due to possible disruption.

Any events that had been planned will also be cancelled.

However, Libraries NI says customers can still access online resources as normal.

"Potential disruption to services may continue into the weekend, so please keep an eye out on our Facebook pages for further updates."

As the first and deputy first ministers indicated earlier, we are expecting another update from them shortly.

Three podiums have been set up at Stormont for another press conference.

We'll be bringing that to you live - you can watch by clicking on the 'Watch Live' button that will appear that the top of this page and follow live updates here too.

Image source, Getty Images

Get torches, batteries and make sure your devices are charged - that's the advice from Northern Ireland Electricity as it braces for possible power cuts.

“We have been working closely with the Met Office and other agencies to keep updated on the progress of the storm,” Caron Malone, head of transmission strategy at NIE Networks, told BBC Radio Ulster’s Talkback programme.

“We continue to enact our escalation plans, it is not possible at this stage to predict the extent of the damage that we might see, but in our experience with these sorts of weather warnings, we are preparing for widespread damage on the network."

If you're just joining us, here's a quick catch up:

• Northern Ireland's first and deputy first ministers have advised people to stay home on Friday and work from home if possible with Storm Éowyn due to land in the early hours
• They said it was an "evolving" situation and that more information would be issued later this afternoon
• The Northern Ireland red warning will be in effect from 7am until 2pm on Friday, while in the Republic the red alert comes into effect at various times from 2am.
• All schools across the island of Ireland will be closed on Friday, while Queen's University Belfast and Ulster Universityhave said they will close tomorrow as well as further education colleges
• All Lidl stores on the island will close during the times the red warning is in place
• Public transport operator Translink and both Belfast's airports have warned of disruption to services
• Three P&O Ferries sailings from Larne to Cairnryan on Friday are cancelled

Image source, Getty Images

The supermarket chain Lidl says all its stores in Northern Ireland and the Republic will close on Friday.

The company added the stores will reopen one hour after weather warnings lift in local areas, if it's safe to do so.

The Northern Ireland warning will be in effect from 7am until 2pm on Friday.

The red warnings in Leitrim, Mayo and Sligo are from 1am on Friday until 12pm; in Clare and Galway they are from 3am to 11am; and in Donegal the earning is from 7am to 2pm.

Public transport, flights and ferries are going to be heavily disrupted tomorrow.

Here's what we know so far if you're due to travel:

• Bus and train operator Translink says that passengers should "allow additional journey time in case of delays/disruption", while the Met Office has said to expect roads, bridges and railway lines will be closed.
• Belfast City Airport's latest information shows a number of cancellations of Aer Lingus services to and from Great Britain tomorrow. It says disruption to flights is expected and advised passengers to check with their airline.
• Belfast International Airport says it is "actively monitoring" the forecast and anticipates flights being affected. It also asked passengers to check with airlines and stay across the airport's website for the latest.
• P&O Ferries says its 4am, 8am and 12pm sailings from Larne to Cairnryan tomorrow are cancelled. It is aiming to restart its service with the 4pm sailing leaving at 5pm, but that is subject to change depending on the weather.

Image source, Getty Images

We've already heard news that schools across Northern Ireland will be closed on Friday - and the same applies in the Republic.

The Irish Department of Education has confirmed schools will close and remain closed after the red warning expires.

In an advisory notice, it says school buildings may need to be checked for any damage.

Image source, Getty Images

Earlier on Radio Ulster's Talkback, the AA's Chris Wood says that if it's essential for you to drive tomorrow you should "plan your route before you go out, stick to main roads and be extra cautions when driving".

"Check with your insurance provider, make sure you are covered," he added.

He says to "expect delays and check you have enough fuel", your window wipers and the tread in your tyres.

The RAC has also issued guidance as red weather warnings "are the strongest possible signal that drivers should avoid the roads".

Spokesperson Alice Simpson says it strongly urges drivers in Northern Ireland "to stay safe by parking away from trees that could be uprooted".

Jayne McCormack
BBC News NI political correspondent

We know Stormont ministers held briefings throughout the morning to assess the level of risk and discuss how prepared different agencies are.

Like all weather events, politicians can’t control the unpredictable but it was evident from the press conference that ministers want to avoid a sense of panic.

O’Neill warned of the potential for danger and urged anyone thinking of venturing out to get a photo not to do it.

Little-Pengelly said we should “hope for the best, but prepare for the worst”.

The fact we are expecting a second press conference with ministers in the next few hours, after they meet the PSNI, is an indication of how seriously this is being taken.

The first minister says emergency responders have a protocol in place for these kinds of situations that has "kicked in".

O'Neill says that while you "can't predict what's going to happen in these scenarios", she says there are "things you can do" to prepare.

"I don't think Emma or I could stand here and predict what potentially could unfold," she adds.

But she says that high winds and fallen trees are expected "and that's why we are urging people to stay at home if they can".

The press conference is now over but, as signalled by both the first and deputy first ministers, another is expected later this afternoon.

The Deputy First Minister says people should "keep a close eye" on the government's social media accounts and home pages.

She says these accounts will be kept up to date with the latest news.

The deputy first minister says there will be meetings throughout the day, with ministers planning to speak to the media again at about 3.30pm.

She says the red alert for Northern Ireland is "highly unusual" and that between 7am and 2pm on Friday there is a likelihood of "widespread disruption".

Little-Pengelly says that as well as schools closing, she expects other alerts to come out today.

She says agencies will be monitoring the situation over the coming hours as "we work together to keep the people of Northern Ireland safe".

"You can play your part by following the advice and only travelling if it is essential and to work at home."

Michelle O'Neill asks members of the public to "bear with us".

"We'll try to provide as much guidance as we can in as much real time as we can," she says.

She adds there will be "much more" information later this afternoon, including on impacts on the health service.

Michelle O'Neill says an emergency alert will go to people's phones later this afternoon. She said it was an evolving situation, indicating that there are more meetings to come and a further press conference later.

She asked people to avoid unnecessary travel during tomorrow's weather warning, adding that a red warning is "very serious" and people should expect disruption.

Ministers have now approached the podiums set up in Stormont's Great Hall and have started speaking.

Follow along with what they have to say by clicking on the 'Watch Live' button at the top of the page.