The Director-General(DG) of the National Emergency Management Agency (NEMA), Mrs Zubaida Umar, has said that Disaster Risk Financing(DRF) enables faster and more predictable responses by ensuring funds are available for emergencies when needed.
Umar added that DRF supports proactive planning and early action to minimise disaster impacts, and generally more cost-effective than post-disaster borrowing or emergency appeals.
The DG stated this at a day DRF simulation workshop organised by NEMA in collaboration with the International Food Policy Research Institute (IFPRI), for stakeholders in southwest, Edo and Delta states, held in Ibadan, Oyo State.
The simulation workshop brought together participants from State Ministries of Finance, Agriculture, and Budget and Planning; State Insurance Desks; Heads of State Emergency Management Agencies (SEMAs).
Others include the South West Zonal Director; and Heads of NEMA Operations Offices across the South West, including Edo and Delta States.
Represented by NEMA’s South West Zonal Director, Mr Saheed Akiode, the DG emphasised that the importance of Disaster Risk Financing cannot be overstated, particularly in the face of increasing frequency and unpredictability of disasters driven by climate change and rapid modernisation.
The DG noted that the simulation exercise demonstrates NEMA’s commitment to strengthening risk-informed planning and financing mechanisms at both national and sub-national levels.
Umar expressed optimism that insights from the exercise would enhance funding strategies, improve preparedness, and increase institutional visibility.
In his welcome remarks, the Head of NEMA Ibadan Operations Office, Mr Kadiri Olarenwaju, said that as disasters become more frequent and costly, disaster risk financing has emerged as a key component of disaster risk management and climate adaptation.
This, he said, would help to manage the financial impact and support long-term development goals.
Also, the Executive Secretary of Edo State Emergency Management Agency, Mr Jerry Idahosa, lauded NEMA and IFPRI for the innovative initiative of simulating Disaster Risk Financing beyond the federal level to include sub-national stakeholders.
He pledged to replicate the paradigm shift toward proactive disaster budgeting in Edo State and encouraged other states to adopt similar approaches.
The workshop concluded with a debriefing session where findings from the simulation were shared. Participants collectively generated savings of $67,000 during the exercise.
IFPRI facilitators announced that the amount saved through the simulation game would be donated in real time to a local humanitarian organisations in Nigeria to support disaster response efforts.
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