Devonomics

Devonomics

It is difficult to answer questions about how Nigeria can and should achieve sustainable economic, social and political growth. This column takes a look at well known development economic theories and applies them to the unique Nigerian context.

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Solving Nigeria's flood menace

Akinkunmi Akingbade

Akinkunmi Akingbade

Akin is a Freelance Consultant and Writer with a background in Development Economics. He previously worked at Ventures Africa.

In 2011, if Mr. Olukunle Oke were told to predict his future, he would have imagined moving to his next house, buying another car, and attending his children's graduation. He would never have predicted the ravaging flood that took away his pregnant wife, four-month old baby, grandchild and four other children.

Similar stories swamp the media at regular intervals with little clarity on how the government will manage these concurrent flood outbreaks. In 2017, floods hit virtually every state in Nigeria; in Benue alone, over 100,000 people were displaced by flooding and the 72-hour rain led to the loss of property worth millions of Naira. 

 

Operation Go-Slow

Has there been any progress in dealing with these floods? Well, it would be unfair to ignore some of the government's constructive efforts. 

During Shegu Shagari’s tenure, the government established the Ecological Fund to address environmental issues such as flooding. A portion of the Federation Account – initially 1 percent, but increased to 2 percent in 1992 – is set aside for the fund each year. 

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