FG to Give ₦6.3bn Interest-Free Loans to 21,000 Flood Victims

The Federal Government will soon disburse ₦6.3 billion in interest-free loans to 21,000 Nigerians severely impacted by recent flood disasters. Minister of State for Humanitarian Affairs and Poverty Reduction, Yusuf Sununu, announced this major intervention on Monday in Abuja.

The announcement came during a roundtable event marking the International Day for Disaster Risk Reduction. Sununu stated the initiative aims to cushion the devastating effects of flooding and bolster national food security.

Direct Financial Support for Flood Victims

“In the next few weeks, 21,000 Nigerians will receive interest-free, collateral-free loans of ₦300,000 each,” the Minister declared. He emphasized that this support is specifically designed to assist farmers and strengthen communities recovering from flood damage.

This new loan program adds to the government’s broader social investment efforts. Sununu revealed that the National Social Investment Programme has already reached over 8.1 million households with more than ₦300 billion in Conditional Cash Transfers. He confirmed these efforts will continue under President Bola Tinubu’s Hope Agenda.

As detailed in the complete version, there are several key factors to consider.

New Framework for Disaster Management

In her remarks, the Director-General of the National Emergency Management Agency (NEMA), Zubaida Umar, highlighted the escalating threat of climate-related disasters. She called for a stronger national shift from reactive relief to proactive prevention and preparedness.

Umar announced the launch of two critical policy documents: the NEMA Strategic Plan (2025–2029) and the National Disaster Risk Reduction Strategy (2025–2030). These frameworks are designed to guide future disaster preparedness and build national resilience. NEMA is also developing a National Risk Monitoring and Information Platform to improve early warning systems.

The event was attended by Vice President Kashim Shettima, Deputy Speaker Benjamin Kalu, Zamfara State Governor Dauda Lawal, and several international partners.

Recent data from NEMA’s 2025 Flood Dashboard, updated on October 10, underscores the urgency of these interventions. The report states that 238 people have lost their lives, 135,764 have been displaced, and over 409,714 individuals have been affected by floods this year. An additional 826 people sustained injuries, with 115 others still reported missing across the country. This federal loan program represents a critical step in aiding these flood victims.