Lagos Rolls Out Africa’s First Free Flood Insurance to Shield Millions

Lagos State has launched Africa’s first Flood Risk Insurance Policy. It aims to provide rapid financial aid to vulnerable residents when floods strike. The scheme covers over four million people in seven high-risk local government areas. It offers up to $7.5 million per flood event with no premiums or complex paperwork. The programme is fully funded by the state and uses existing social registers for identification. International partners cover 90% of the first-year premium. Officials say this model shifts disaster response to proactive risk management. They hope it offers a scalable framework for other regions and enhances long-term resilience.

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