This study analysed the impact of the 2012 flood that occurred in Nigeria on households’ chance of entering into poverty, using a panel analysis of covariance model and data from the Nigerian General Household Survey of 2011 and 2013. The result of the analyses showed that though the 2012 flood did not significantly affect the per capita expenditure of all the surveyed households, it may have significantly decreased the per capita expenditure of households located in the flood affected areas and were heavily dependent on agriculture for their income.