• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

  • Fact-Check
  • Economy
    • Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Codeine, Tramadol Worth ₦20.5bn Seized as Customs-NAFDAC Cooperation Deepens

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

      Abdullahi Aliyu Maiwada

      Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

  • National
    • Niger Police Rescue 37 Human Trafficking Victims, Arrest 10 Suspects

      Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi

      NSCDC Issues Licences to 28 Private Security Companies, Urges Enhanced Intelligence…

      Lt. Col (Mrs) Onyechi Appolonia Anele, FSS, anipr

      Army Debunks Viral Video on Arrest of Foreign Arms Dealer, Says…

      Military Troops in Action

      Military Intensifies Offensive, Eliminate Dozens of Bandits, Recover Arms, Livestock in…

      PHOTOS: How Nigerian Military’s Coordinated Air and Ground Assault Crushed Terrorists…

    • Government
      • Police Officer

        Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in…

        Abike Dabiri CEO NIDCOM

        NiDCOM Secures Release of Stranded Nigerians in CAR, Says Repatriation Underway

        In Kano, NAFDAC Shuts Down Warehouse Stocked with Explosive Chemicals

        Abike Dabiri CEO NIDCOM

        NiDCOM Condemns Killing of 2 Nigerians in S’Africa, Demands Justice

        Military Troops in Action

        Troops Neutralize Terrorists, Recover Weapons, Destroy Motorcycles in Zamfara, Kebbi, Niger

  • Security
    • Police Officer

      Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in…

      Niger Police Rescue 37 Human Trafficking Victims, Arrest 10 Suspects

      Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi

      NSCDC Issues Licences to 28 Private Security Companies, Urges Enhanced Intelligence…

      CP Ajao Saka Adewale

      FCT Police Secure Release of 2 Abducted Women After Swift Operation

      Army Recovers Weapons, Rescues Teenager in Plateau

  • Features
    • Tinubu’s Plateau Gambit – Yilwatda, 2027, and the Return of the…

      Ozumi and a recipient of a wheelchair

      Wheels of Hope: How a Simple Gift is Reshaping Lives at…

      Late Ex-President Muhammadu Buhari and Mansur Liman

      “Buhari: A Blunt, Honest Leader Who Laughed at His Own Predicament”

      Intelligence Synergy: Reshaping Nigeria’s Security Architecture, By Mukhtar Ya’u Madobi

      When Media Saves Lives: How NEMA is Equipping Journalists for Disaster…

  • State
    • Police Officer

      Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in…

      Niger Police Rescue 37 Human Trafficking Victims, Arrest 10 Suspects

      CP Ajao Saka Adewale

      FCT Police Secure Release of 2 Abducted Women After Swift Operation

      Army Recovers Weapons, Rescues Teenager in Plateau

      Tinubu’s Plateau Gambit – Yilwatda, 2027, and the Return of the…

  • Event
    • Engr. Saleeman Adedoyin Saleeman

      Global IT Leader Saleeman Adedoyin Launches Free Summer School in Ilorin…

      Celestine Achi, AI in PR specialist

      BOOK REVIEW: AI is Reshaping PR—Celestine Achi Shows Us How

      Saudi Arabia’s ‘Sleeping Prince’ Dies Weeks After PRNigeria Debunked Viral Recovery…

      Young Muhammadu Buhari jnr

      A Young Buhari’s Poetic Tribute to a Leader By Yushau A….

      Chairman ADF Alhaji Maisudan Muhammed Bello

      ADG Celebrates 50th Anniversaries of Northern Universities

    • PR Nigeria Award
  • E-Paper
Home Government Nigeria Signs MOU with African Risk Capacity
  • Government

Nigeria Signs MOU with African Risk Capacity

By
Chinedu Moghalu
-
May 25, 2018
Nigeria Signs MOU with African Risk Capacity
The Government of the Federal Republic of Nigeria has,  in Busan, South Korea, on the margins of the ongoing AfDB Annual Meetings, signed a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to serve as a framework to facilitate cooperation and collaboration between ARC Agency and Nigeria setting out the terms and conditions under which they will work together to address the impact of extreme weather events in Nigeria, including training support to Government personnel.
This is coming just a day after the President Akinwumi Adesina, pledged the full support of the AfDB for the work of African Risk Capacity; and also called on more stakeholders to join the ARC to make sure that the financing mechanism for Africa’s climate risks are available to enable countries to insure themselves against natural disaster risks.
The Bank and ARC has a partnership since March 2017 to strengthen their technical collaboration towards enhancing the risk management infrastructure and policy across Africa while supporting countries in building resilience against climate shocks.
Speaking on the signing of the MoU, Nigeria’s Honourable Minister for Finance, Mrs. Kemi Adeosun, congratulated the African Risk Capacity for the innovative approach it is taking towards climate risk financing and management in Africa; and expressed her satisfaction that Nigeria can now formally work together with the ARC to address the impacts of extreme weather events in the country through leveraging on all the available technical tools.
The journey towards a mutual technical collaboration with Nigeria began in July 2015 when the ARC team undertook a scoping mission which established the need for more efficient response to natural disasters which often disproportionately affect small holder farmers and other vulnerable populations.
The Government of Nigeria was a founding member of ARC, participating in the ARC establishment discussions and the nomination of Dr. Ngozi Okonjo-Iweala as the Chair of the ARC Agency Governing Board by the then African Union Commission Chairperson, H.E. Dr. Nkosazana Dlamini-Zuma. Nigeria subsequently signed the ARC Establishment Agreement on the 4th of December 2014 thereby formally became a member of the institution.
ARC was established as a Specialized Agency of the African Union (AU) to help member states improve their capacities to better plan, prepare and respond to extreme weather events and natural disasters. Through its first financial affiliate, ARC Ltd, the institution provides African governments with innovative risk management and risk transfer tools and services towards creating a comprehensive pan-African disaster response system.
Mr. Mohamed Beavogui, the Director-General of ARC expressed his appreciation to the Nigerian Government for the signing of the MoU noting that, “the leadership role of Nigeria in the continent and in the establishment of the ARC makes the signing of a formal MoU quite momentous for our work in the region. We want to create systems that can truly protect the livelihoods of the most vulnerable and safeguard the significant development gains made by the country over the years.”
Earlier in the week, the Federal Government of Nigeria has, through the Honourable Minister Adeosun, announced the renewal of its agreement with the African Development Bank (AfDB) on the Nigeria Trust Fund (NTF) for additional 10 years to assist the development efforts of low-income regional member countries.
Under the collaborative framework of the Memorandum of Understanding, the African Risk Capacity shall work with the Government of Nigeria to strengthen existing national disaster risk management systems and a deepening of risk transfer solutions in the country.
About African Risk Capacity (ARC)
ARC consists of ARC Agency and ARC Insurance Company Limited (ARC Ltd). ARC Agency was established in 2012 as a Specialised Agency of the African Union to help Member States improve their capacities to better plan, prepare and respond to weather-related disasters. ARC Ltd is a mutual insurance facility providing risk transfer services to Member States through risk pooling and access to reinsurance markets; it is owned by Member States with active insurance policies as well as KfW Development Bank and the UK Department of International Development (DfiD), as capital contributors.
With the support of the United Kingdom, Germany, Sweden, Switzerland, Canada, France, and the United States, ARC assists AU Member States in reducing the risk of loss and damage caused by extreme weather events affecting Africa’s populations by providing, through sovereign disaster risk insurance, targeted responses to natural disasters in a more timely, cost-effective, objective and transparent manner. ARC is now using its expertise to help tackle some of the other greatest threats faced by the continent, including outbreaks and epidemics.
Chinedu Moghalu
[email protected]
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • (MOU)
  • Afdb
  • Akinwumi Adesina
  • Nigeria
  • Nkosazana Dlamini-Zuma
Previous articleArmy Seeks Partnership With EFCC
Next articleSale of Forex to Travelers Over the Counter
Chinedu Moghalu
Chinedu Moghalu

RELATED ARTICLESMORE FROM AUTHOR

Police Officer

Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in Delta

Abike Dabiri CEO NIDCOM

NiDCOM Secures Release of Stranded Nigerians in CAR, Says Repatriation Underway

In Kano, NAFDAC Shuts Down Warehouse Stocked with Explosive Chemicals

Abike Dabiri CEO NIDCOM

NiDCOM Condemns Killing of 2 Nigerians in S’Africa, Demands Justice

Military Troops in Action

Troops Neutralize Terrorists, Recover Weapons, Destroy Motorcycles in Zamfara, Kebbi, Niger

Major General Chris Olukolade (rtd.), Chairman, Centre for Crisis Communication (CCC)

CCC Chairman Urges Grassroots Intelligence to Tackle Insecurity

Governor Yusuf represented by his spokesperson, Sanusi Bature Dawakin accompanied by Dr. Haladu Mohammed, and Dr. Bashir Abdu

Kano Governor Honored as 2025’s Top Governor for Education Investment

DIG Hashimu Argungu Rtd PSC Chairman

PSC Promotes 12 CPs to AIG, Elevates Other Senior Police Officers

In 5 Months, NNPCL Remits N6.96trn to Federation Account

Nigeria’s Economy Significantly Larger After GDP Rebasing, New Data Reveals

Dr Mary Ada Ogbe

Regional Ministry Boosts Accountability with New Performance System

Mr. Fredrick Nwabufo

President Tinubu Congratulates Fredrick Nwabufo on 40th Birthday

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in Delta
  • Niger Police Rescue 37 Human Trafficking Victims, Arrest 10 Suspects
  • NSCDC Issues Licences to 28 Private Security Companies, Urges Enhanced Intelligence Sharing
  • FCT Police Secure Release of 2 Abducted Women After Swift Operation
  • Army Recovers Weapons, Rescues Teenager in Plateau
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Police Bust Notorious Kidnapping, Sea Piracy Syndicate, Arrest 5 Suspects in DeltaNiger Police Rescue 37 Human Trafficking Victims, Arrest 10 SuspectsNSCDC Issues Licences to 28 Private Security Companies, Urges Enhanced Intelligence SharingFCT Police Secure Release of 2 Abducted Women After Swift OperationArmy Recovers Weapons, Rescues Teenager in PlateauTinubu’s Plateau Gambit - Yilwatda, 2027, and the Return of the Machiavellian Strategist By Abdullahi O Haruna HaruspiceEFCC Probes UK-Bound Female Passenger Over Undeclared Foreign Currencies at Lagos AirportNAF Bolsters Battlespace Dominance with New Combat-Ready UAV OperatorsDefence Ministry Introduces Green Curriculum in Military SchoolsNigerian Army Probes Viral Troop Feeding Video, Reaffirms Commitment to Soldiers' WelfareNiDCOM Secures Release of Stranded Nigerians in CAR, Says Repatriation UnderwayIn Kano, NAFDAC Shuts Down Warehouse Stocked with Explosive ChemicalsNiDCOM Condemns Killing of 2 Nigerians in S'Africa, Demands JusticeArmy Debunks Viral Video on Arrest of Foreign Arms Dealer, Says Footage is OldMilitary Intensifies Offensive, Eliminate Dozens of Bandits, Recover Arms, Livestock in Zamfara
X whatsapp