The Federal Government has introduced a National Flood Insurance Policy (NFIP) to provide a financial safety net for individuals, businesses, and communities frequently affected by flooding across Nigeria.
The initiative was announced on Thursday in Abuja at a Technical Committee Meeting (TCM) focused on the development and implementation of the new insurance policy, as reported by the News Agency of Nigeria (NAN).
According to the Ministry of Environment, the NFIP is designed to reduce the financial burden on federal and state governments, while also offering protection to citizens and businesses facing flood-related losses.
