FG Launches National Flood Insurance Cover to Shield Citizens, Businesses from Disasters
The Federal Government has unveiled plans for a National Flood Insurance Policy aimed at protecting Nigerians and businesses from the devastating effects of recurrent floods.
The initiative was announced on Thursday in Abuja at the opening of the Technical Committee Meeting on the Development of the National Flood Insurance Policy and Implementation Framework.
In his keynote address, the Permanent Secretary of the Federal Ministry of Environment, Mahmud Kambari, described the increasing frequency and intensity of flood incidents in Nigeria as a national emergency requiring urgent, strategic action.
Represented by the Deputy Director of the Department of Flood, Erosion Control and Coastal Management, Kunle Awojemila, Kambari said the country must urgently shift from a reactive model to a more proactive and sustainable approach to flood risk management.
“This programme is not just timely; it is essential,” he said. “We are prioritising resilience-building and long-term risk reduction. The National Flood Insurance Policy will be a financial lifeline for affected individuals, communities, and businesses, while also easing the fiscal burden on the government during disasters.”
Kambari highlighted the root causes of the worsening flood scenarios, citing climate change, unchecked urbanisation, and weak infrastructure as contributing factors. He noted that the policy would be anchored on the National Erosion and Flood Control Policy, particularly Section C 2.4.3 (iv), which mandates the development of sustainable insurance-based responses to flood risks.
According to the ministry, the new insurance plan will also encourage collaboration among the three tiers of government, the private sector, and international development partners.
It is expected to provide structured compensation to victims of flood disasters, improve recovery time, and promote investments in climate-resilient infrastructure.
As climate threats intensify, the federal government’s push for a comprehensive flood insurance scheme signals a decisive move towards a more secure, climate-adaptive Nigeria.
