NEC Approves N83.2bn Flood Response Fund, Seeks Stronger Support for Agricultural Exports

NEC Approves N83.2bn Flood Response Fund, Seeks Stronger Support for Agricultural Exports

The National Economic Council (NEC) has approved N83.2 billion for interventions under the Anticipatory Action Task Force (AATF) to mitigate the impact of anticipated flooding and other climate-related emergencies across Nigeria.

The approval was granted at the 158th meeting of the Council held on Thursday and chaired by Vice President Kashim Shettima.

The intervention fund followed a presentation by the Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, on the need for proactive measures to address flooding and disaster risks, particularly during the rainy season.

Council members stressed the importance of the Anticipatory Action Task Force in responding to disasters and emergencies, noting that government must move beyond reactive responses to crisis management and embrace preventive strategies.

Addressing the meeting, Vice President Shettima said the reform agenda of President Bola Ahmed Tinubu must begin to deliver visible and measurable benefits to Nigerians.

He stated that the success of government policies should be measured by their impact on the lives of ordinary citizens, including farmers, manufacturers, vulnerable groups, unemployed youths and future generations.

“When this Council last met, I called our economy a workshop. A place of measurement and correction. A place where plans are turned into systems, and systems into institutions, before any of it becomes prosperity,” the Vice President said.

He noted that Nigeria remains on a path from economic stabilisation to production, from policy aspirations to implementation, and from isolated interventions to coordinated national growth.

The Vice President also highlighted the importance of strengthening social protection programmes, describing them as critical tools for protecting vulnerable citizens and building human capital across the federation.

On economic diversification and exports, Shettima urged state governments to collaborate with the Federal Government in removing logistical and regulatory obstacles hindering agricultural exports.

He stressed that Nigeria must move away from exporting raw materials and instead build value chains that connect farms to factories, factories to standards, standards to ports, and ports to international markets.

“We cannot continue to export raw materials and import finished prosperity,” he said.

The Vice President further assured that the Council would address bottlenecks affecting agricultural exports, particularly challenges related to port operations and compliance with international standards.

According to him, improving export processes and meeting global requirements are essential to increasing farmers’ earnings, supporting manufacturers and expanding Nigeria’s participation in international trade.

“A nation that cannot move its goods has imprisoned its own farmers. Meeting international standards is not submission to foreign demand. It is the price of the markets that will reward our labour,” he added.

The Council expressed optimism that the approved flood intervention fund and ongoing economic reforms would strengthen resilience against climate-related disasters while supporting broader national development goals.

The statement was issued by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.

NEC Approves N83.2bn Flood Response Fund, Seeks Stronger Support for Agricultural Exports