- The Federal Government approved interest-free loans of ₦300,000 each for 21,000 Nigerians affected by flooding across the country
- NEMA unveiled two major policy frameworks to boost disaster preparedness and resilience, shifting from reactive to proactive strategies
- A new programme enabled IDPs to retain 30% of their produce, with the government off-taking 70% and providing direct cash payments
The Federal Government has announced plans to disburse ₦6.3 billion in interest-free loans to 21,000 Nigerians affected by recent flood disasters across the country.
Minister of State for Humanitarian Affairs and Poverty Reduction, Dr Yusuf Sununu, disclosed this on Monday in Abuja during a roundtable held to mark the International Day for Disaster Risk Reduction.
According to Sununu, the initiative is aimed at mitigating the impact of flooding and strengthening food security nationwide. “In the next few weeks, 21,000 Nigerians will receive interest-free, collateral-free loans of ₦300,000 each,” he said.
He added that the intervention is primarily designed to support farmers and empower flood-affected communities.
The minister further revealed that the Federal Government, through the National Social Investment Programme, has so far reached over 8.1 million households with Conditional Cash Transfers amounting to more than ₦300 billion.
“This support has improved the resilience, health, and education of many vulnerable households. The process will continue under the Hope Agenda of Mr President,” he stated.
In addition, Sununu announced plans to empower internally displaced persons (IDPs) through a scheme that guarantees a market for their agricultural produce. “Under our new collaboration with the Federal Ministry of Agriculture, IDPs will retain 30% of their produce while the government will off-take 70%, providing direct cash payments to the participants,” he explained.
Also speaking at the event, the Director-General of the National Emergency Management Agency (NEMA), Zubaida Umar, stressed the growing threat posed by climate-related disasters. She called for a shift from reactive to proactive disaster management strategies.
Umar noted that Nigeria continues to face increasing risks from climate change, conflict, pandemics, and technological hazards. In response, she announced the launch of two major policy documents — the NEMA Strategic Plan (2025–2029) and the National Disaster Risk Reduction Strategy (2025–2030) — aimed at enhancing the country’s disaster preparedness and resilience.
“These frameworks promote innovation in financing, institutional collaboration, and risk-informed development,” she said. Umar also revealed that NEMA is developing a National Risk Monitoring and Information Platform to strengthen early warning systems and enable data-driven decision-making.
She further called for the adoption of innovative financing options to support long-term disaster prevention and recovery efforts. These include catastrophe bonds, climate funds, and blended finance models.
The event, themed around building resilience against climate-related disasters, was attended by Vice President Kashim Shettima, Deputy Speaker of the House of Representatives Benjamin Kalu, Zamfara State Governor Dauda Lawal, other lawmakers, and international partners.
Recent data from NEMA’s 2025 Flood Dashboard revealed that as of 10 October, at least 238 people have died and 135,764 others displaced due to flooding across the country. In total, 409,714 individuals have been affected, with 826 injured and 115 reported missing.
Flood-related fatalities have been recorded across multiple states, underscoring the urgency of implementing robust disaster response and mitigation strategies.
Banks, other financial institutions reported higher loan default rates in Q4 2024 – CBN
Meanwhile, TheRadar earlier reported that the Central Bank of Nigeria (CBN) said lenders, including commercial banks and other financial institutions, recorded higher default rates for secured, unsecured, and corporate loans in the fourth quarter (Q4) of last year 2024.
The CBN revealed this in its Q4 2024 Credit Conditions Survey Report published on its website.