‘Agric Sector Stands Most Vulnerable to Flooding Risk in 2023’

Ebere Nwoji

The Managing Director/Chief Executive Officer, Leadway Assurance, Tunde Hassan-Odukale, has   said that the  Agricultural sector which contributed 26.97 percent to the National GDP in 2022, stands the  most vulnerable sector to flood devastation imminent in   this year’s rainy season as predicted by the  Nigeria Meteorological Agency (NiMET).

Odukale therefore cautioned Nigerians against ignoring the early warnings on weather especially rain fall and flooding issued by the relevant weather monitoring and emergency management agencies of government for this year’s rainy season.

He gave the warning in a statement he issued in reference to the weather forecast issued concerning this year’s rainy season by the Nigeria Meteorological Agency (NiMET).

To cushion the effect, he said his company has designed insurance policies to help victims of devastating flooding recover from the massive financial losses, which experts estimated at over N4.2 trillion.

Last year, the Nigeria Meteorological Agency (NiMET) issued a grim forecast saying that 2023 would witness an early onset of rainfall accompanied by flooding.

According to the agency, effect from March, coastal areas in the South-South, particularly Bayelsa, Akwa Ibom, and Rivers State, will experience downpours; Southern Inland cities will see precipitation in April, while central states will see rain in May.

NiMET also predicted extended rainfall in Gombe, Kaduna, Kwara, Enugu, Anambra, Ogun, and Lagos states, adding that between June and July, the northern states of Sokoto, Kebbi, Zamfara, Kano, Katsina, Jigawa, Yobe, and Borno would experience the beginning of rain, which would peak between July and September”.

According to federal authorities, the 2022 floods resulted in 662 deaths across 33 states as the deluge of rain washed away years of investments in agriculture, hundreds of hectares of farmlands, and properties was estimated at trillions of Naira. The federal government estimated that over 2 million Nigerians were displaced and that the national economy lost well over N4.2 trillion to the floods. Commenting on this, the Leadway Assurance boss said “This year’s weather forecast paints a bleak picture, especially against the backdrop of the prevailing global inflation and economic vulnerabilities and uncertainties.”