NEC Approves N83.2bn Flood Intervention Fund, Shettima Urges States to Boost Exports
By Peace Erewunmi
The National Economic Council (NEC) has approved an N83.2 billion intervention fund aimed at strengthening flood preparedness and climate-related disaster response across Nigeria.
The approval was made during the 158th NEC meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, where members deliberated on urgent national economic and environmental priorities.
The fund is expected to support anticipatory action measures designed to reduce the impact of flooding, improve early warning systems, and enhance coordination among federal and state agencies in managing climate-related emergencies.
Vice President Shettima, while addressing the council, stressed the need for proactive governance in tackling recurring flood disasters, noting that Nigeria must shift from reactive relief efforts to preventive and data-driven disaster management strategies.
He explained that the success of ongoing reforms would be measured by their tangible impact on citizens, especially farmers, manufacturers, and vulnerable communities affected by environmental and economic challenges.
In addition to disaster management, Shettima urged state governments to intensify efforts to boost non-oil exports, particularly agricultural products, by removing bottlenecks that hinder access to international markets.
He emphasized the importance of improving logistics, meeting global quality standards, and strengthening value chains that connect production to export markets, describing it as key to Nigeria’s long-term economic transformation.
According to him, Nigeria must move away from a raw-material export economy to one that promotes value addition and industrial growth capable of creating jobs and increasing foreign exchange earnings.
The NEC also reaffirmed its commitment to strengthening collaboration between federal and state governments in addressing structural challenges affecting economic development and environmental resilience.
As of the time of filing this report, the council is expected to continue reviewing related policy frameworks aimed at improving disaster preparedness and boosting national productivity.
