NEC Approves N83.2bn Anti-Flood Fund for Nigeria

The National Economic Council (NEC) approved an N83.2 billion Anti-Flood Fund aimed at implementing anticipatory actions to mitigate climate-related disasters across Nigeria. This decision was reached during the NEC's 158th meeting held on Thursday at the Presidential Villa in Abuja, led by Vice President Kashim Shettima.

The fund represents a 50% reduction from an initial request of N166.42 billion submitted by the Minister of Budget and Economic Planning, Atiku Bagudu. Cross River State Governor Bassey Otu explained that the funds would be drawn from the Federation Account Allocation Committee to facilitate timely interventions, as flooding has historically devastated the federation.

This proactive approach marks a significant shift in strategy, as it aims to address flooding issues before they cause damage. Additional discussions during the session included long-term flood management strategies and proposals for national regional development policies for 2026-2030 to address spatial inequities.