N83.2bn Anti-Flood Fund Approved as Details of NEC Meeting Emerge

The National Economic Council has approved 83.21 billion naira for the implementation of an Anticipatory Action Task Force aimed at mitigating flooding and other climate-related disasters across the country.

This approval followed a 50 percent reduction of the initial 166.42 billion naira request submitted to the council by the Minister of Budget and Economic Planning, Atiku Bagudu.

The decision was reached on Thursday during the council’s 158th meeting presided over by Vice President Kashim Shettima at the Presidential Villa in Abuja.

Briefing State House correspondents after the meeting, Cross River State Governor Bassey Otu stated that the approved funds will be drawn through the Federation Account Allocation Committee to facilitate timely interventions.

“We know that flooding now is almost an occurring decimal, and the Federal Government were very happy that we are putting some retroactive steps to make sure that the mitigation comes on in time to save the states,” Otu said.

He explained that the 50 percent budget cut was a resource-conscious initial step rather than a rejection of the urgency of the request.

“This is the first time as a nation that we are taking proactive steps. Most of the time, we’ve waited till flood has done its damage before we act, but this time around we are taking proactive steps to mitigate the possibility of the flood, which is a perennial issue.”

Other state governors highlighted additional development plans discussed during the session. Plateau State Governor Caleb Mutfwang noted that this intervention represents the first phase of a broader flood management strategy, which includes long-term infrastructure such as reservoirs to manage water releases from Cameroon’s Lagdo Dam.

Additionally, Kano State Governor Abba Yusuf disclosed that the council considered the proposed National Regional Development Policy for 2026 to 2030 to address spatial inequalities, while Osun State Governor Ademola Adeleke announced that the council reviewed a proposal to strengthen Nigeria’s agro-export value chain, which could unlock about “$50bn in annual agro-export potential currently tied to compliance gaps.”