The Federal Authorities has launched a Nationwide Flood Insurance coverage Coverage (NFIP) to supply a {financial} security web for people, companies, and communities often affected by flooding throughout Nigeria.
The initiative was introduced on Thursday in Abuja at a Technical Committee Assembly (TCM) targeted on the event and implementation of the brand new insurance coverage coverage, as reported by the Information Company of Nigeria (NAN).
In line with the Ministry of Surroundings, the NFIP is designed to cut back the {financial} burden on federal and state governments, whereas additionally providing safety to residents and companies going through flood-related losses.
Talking on the occasion, Mr. Mahmud Kambari, Everlasting Secretary on the Ministry of Surroundings, represented by Mr. Kunle Awojemila, Deputy Director of Flood Erosion Management, mentioned the coverage shifts from reactive response to proactive flood threat administration. He added that it aligns with Part 4 of the Nationwide Erosion and Flood Management Coverage, which focuses on long-term resilience.
“The Federal Authorities has adopted a Nationwide Flood Insurance coverage Coverage (NFIP) aimed toward addressing the rising risk of flood-related disasters throughout the nation,” the NAN report learn partly.
The report additional said, “The Everlasting Secretary of the Ministry of Surroundings, Mr Mahmud Kambari, mentioned the coverage would scale back the {financial} burden on each federal and state governments presently allotted to emergency aid and post-disaster reconstruction.
“He added that the NFIP would function a {financial} security web for people, companies, and communities, enabling swift restoration from flood-induced losses and making certain long-term resilience.”
Kambari defined that the programme is designed to supply {financial} safety and assist fast restoration from flood-related losses. He famous that its implementation would come with clearly outlined timelines, assigned obligations, and mechanisms for efficient monitoring.
Additionally talking on the occasion, Mrs. Rubaiyat El Rufai, Particular Adviser to the President on Nationwide {Economic} Council and Local weather Change, highlighted the urgency of the initiative.
Represented by Mrs. Inna Audu, Particular Assistant to the President on Humanitarian Affairs, she identified that many agrarian communities alongside the River Benue and River Niger endure important harm from seasonal flooding.
The Director of the Erosion and Coastal Zone Administration Division, Mr. Usman Bokani, represented by Assistant Director Mr. Abdullahi Atta, mentioned the nationwide framework would information the event of an inclusive flood insurance coverage system, incorporating financing fashions, community-level supply, threat pooling, and regulatory alignment.
