NEC Approves N83.2bn Flood Response Fund as Shettima Pushes Export Reforms

The National Economic Council (NEC) has approved N83.2 billion for proactive measures aimed at mitigating floods and other climate-related disasters across the country.
The approval was granted on Thursday during the Council’s 158th meeting following a presentation by the Minister of State for Budget and Economic Planning, Senator Atiku Bagudu.
The fund will be deployed through the Anticipatory Action Task Force to strengthen early response mechanisms and reduce the impact of natural disasters before they occur.
Chairman of NEC and Vice President Kashim Shettima said the administration of President Bola Tinubu was committed to ensuring that ongoing economic reforms translate into tangible benefits for farmers, manufacturers and vulnerable Nigerians.
According to him, the nation is gradually shifting from economic stabilisation to increased productivity and from policy aspirations to practical implementation.
Shettima stressed that sustainable prosperity can only be achieved when the welfare of the most vulnerable citizens remains a priority.
The Vice President also called on state governments to collaborate closely with the Federal Government in dismantling logistical and regulatory obstacles hindering agricultural exports.
He urged stakeholders to reposition Nigeria as a value-adding economy, noting that the country must move beyond exporting raw materials and importing finished products.
Shettima maintained that compliance with international standards should be viewed as a strategic requirement for accessing lucrative global markets rather than a concession to foreign demands.
He said improving export competitiveness would unlock greater opportunities for Nigerian producers and strengthen the country’s economic growth prospects.