The Federal Government has adopted a National Flood Insurance Policy (NFIP) to address the growing threat of flood-related disasters across the country.
The policy is aimed at reducing the financial burden on governments and individuals affected by flooding.
The initiative was announced on Thursday in Abuja during the Technical Committee Meeting (TCM) on the Development of the National Flood Insurance Policy and Implementation Framework.
According to the Permanent Secretary of the Ministry of Environment, Mr Mahmud Kambari, the NFIP is a proactive response to the increasing frequency and severity of flooding in Nigeria.
“The time has come to shift from reactive responses to proactive and sustainable flood risk management,” he said.
He said that the policy would serve as a financial safety net for individuals, businesses, and communities, enabling swift recovery from flood-induced losses and ensuring long-term resilience.
Kambari said the technical committee would define clear timelines, assign responsibilities, and develop monitoring mechanisms to ensure the policy’s effective implementation.
Also, Mrs Rukayat El Rufai, Special Adviser to the President on National Economic Council and Climate Change, stressed the need to prioritise flood insurance to secure a more resilient future for Nigerians.
“When you talk about insurance, it is not something to be done after disaster strikes. It is a preparedness mechanism, an anticipated action,” she said.
El Rufai lamented the enormous economic and human toll of recurring floods in Nigeria, noting that current insurance policies often fail to adequately address specific flood risks.
She advocated for standalone flood insurance policies, which offer clearer and more comprehensive protection, promote better risk management, and support disaster recovery efforts.
The Director of the Erosion and Coastal Zone Management Department, Mr Usman Bokani, said the national framework would guide the implementation of a robust and inclusive flood insurance system.
The policy aimed to protect vulnerable populations, support rapid post-flood recovery, and enhance national resilience.
