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

Published

3 months ago

June 18, 2026

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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.”

Related Topics:AntiFlood Approved DETAILS Emerge fund meeting N83.2bn NEC

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Nigeria’s Junior Handball Team ‘Show Character’ To Defeat Guinea In African U20 Championship Quarter-finals Battle

Published

4 minutes ago

September 10, 2026

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Nigeria’s handball youth national team ‘showed character’ worthy of gold medals in their victory over Guinea on Wednesday at the African qualifiers and pick a slot to the 2027 IHF Men’s U21 World Championship.

Sports247 reports that coach of the side, David Emmanuel was excited with the efforts of his lads, as the victory also saw them pick a spot in the semi-finals of the 33rd Africa Men’s Junior Handball Championship.

Coach Emmanuel was beaming with delight in Abidjan, Cote d’Ivoire, following his side’s 28-23 victory over the Guineans in Wednesday’s last-eight encounter and praised them for making their country proud.

He stated afterwards that the boys gave a very solid performance to secure the five-goal victory and they will in the semi-finals face Tunisia, who defeated Democratic Republic of Congo 36-20.

Though they have already confirmed their place at the 2027 IHF Men’s U21 Handball World Championship in North Macedonia, Emmanuel said his team will not relax just yet, as they aim to reach the final in Abidjan and win the ongoing championship.

He acknowledged further that their qualification for ther world championship is the fourth time Nigeria will get there, after 1981 in Portugal where they finished 14th, 1985 in Italy, finishing 16th, and 2019 placed 19th in Spain.

Emmanuel added that everyone in the team is pleased that they have achieved their first aim of qualifying for the world championship and assured that they will remain focused on winning the African qualifiers.

“We are happy with the victory and, most importantly, the qualification for the World Championship. The boys showed character and discipline against Guinea.

“Now we have to recover, study our next opponent, which is Tunisia, and prepare properly for the semi-final. We know it will be a difficult game, but we are ready for the challenge.

“We aim to win the Africa Nations Championship,” Emmanuel submitted, even as he went about patting each of hhis players on the back for their sterling efforts during Wednesday’s crunch encounter with Guinea.

Sports247 reports further that the Nigerian youngsters will hope to continue their impressive run in the semi-finals, as they seek a place in the final and win the trophy this weekend.

Business

NAICOM, NCAA Sign MoU to Strengthen Aviation Insurance Oversight in Nigeria

Published

48 minutes ago

September 9, 2026

Preport

BY NKECHI NAECHE-ESÉZOBOR—The National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA), on Wednesday signed a Memorandum of Understanding (MoU) establishing a Joint Technical Committee on Aviation Insurance, aimed at strengthening regulatory collaboration between the two agencies.

The agreement was formalized at a ceremony held at the NCAA headquarters in Abuja, with the Director General of the NCAA, Capt. Chris Najomo, describing it as a landmark moment for the sector.

Speaking at the event, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Segun Omosehin, described the MoU as a strategic step toward strengthening Nigeria’s aviation insurance framework and supporting the country’s broader economic ambitions.

He said the agreement represents a significant milestone in deepening collaboration between the two regulators, whose mandates, though distinct, are mutually reinforcing.

“This occasion represents not only the strengthening of institutional cooperation, but also a clear affirmation of our shared regulatory commitment to the safety, integrity, and resilience of Nigeria’s aviation ecosystem,” the Commissioner said.

He noted that effective insurance protection in the aviation sector is not merely a regulatory formality but an essential risk management tool that safeguards lives, property, businesses, and the broader economy.

Under the MoU, NAICOM will continue to provide regulatory oversight and technical expertise on insurance matters, including verifying aviation insurance arrangements and providing information on insurers licensed to underwrite aviation risks.

The agreement also establishes a Joint Technical Committee, which the Commissioner described as the “engine room” for implementing the partnership’s objectives.

The committee will be responsible for facilitating information sharing, conducting periodic reviews of insurance requirements, addressing operational challenges, coordinating stakeholder engagement, and promoting capacity building across both institutions and industry participants.

The Commissioner assured NCAA management of NAICOM’s full commitment to the committee’s success, pledging the technical support and expertise needed for effective delivery of its mandate.

Linking the partnership to national economic goals, the Commissioner said strong insurance protection remains a key enabler of investment and growth as Nigeria pursues a $1 trillion economy by 2030 under the Renewed Hope Agenda. He added that a robust insurance framework promotes public confidence in air travel, supports business continuity, facilitates access to financing, and contributes to broader economic stability.

He further stressed that compulsory aviation liability insurance serves as an important safeguard for air travellers and other stakeholders, offering assurance that compensation will be available where legally due.

Responding,, the Director General of the Nigeria Civil Aviation Authority (NCAA), Captain Chris Ona Najomo, said the MoU reflects a long-standing working relationship between the two regulatory bodies and reinforces their joint commitment to aviation safety, financial resilience, regulatory compliance, and the protection of the travelling public and other industry stakeholders.

“Aviation remains a paradoxical industry that is globally recognised as the safest mode of transportation, yet characterised by high-impact operational risks,” Najomo said, noting that the NCAA’s safety mandate must be backed by a transparent and verifiable insurance framework.

He explained that NAICOM for several years, supported the NCAA by assessing the adequacy of insurance policies procured by aviation operators, in line with Part 18.14 of the Nigeria Civil Aviation Regulations 2023. The newly signed MoU, he said, builds on that cooperation.

“This MoU we are signing today further deepens that cooperation, enhances stakeholder confidence, and supports cost-efficient operations while addressing challenges faced by Nigerian operators,” he stated.

According to Najomo, the goal of the partnership goes beyond regulatory enforcement. He said the aim is to create a balanced environment where aviation safety and financial protection reinforce one another, while promoting sustainable insurance practices and reducing avoidable regulatory bottlenecks — in alignment with the Federal Government’s Renewed Hope Agenda.

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