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2022 Flood Caused N4.2trn Economic Loss To Nigeria – FG

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The Federal Government has said the 2022 floods in various parts of Nigeria led to an estimated economic loss of $9.12 billion (N4.2 trillion as at Friday’s official exchange rate of N460.78/$).
FG opined, this was revealed after a post-disaster assessment on the 2022 flooding, as was released in Abuja by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.
Presenting the report as public document in Abuja, the Minister of Humanitarian Affairs, Sadiya Farouq, said the objective of the Global Rapid Damage Estimation Note, developed by the World Bank’s Disaster-Resilience Analytics and Solutions team, was to assess the economic impact of the June – November 2022 floods across the country.
She said the GRADE assessment gave an overview of the nature of the flood disaster and its impact across Nigeria, as well as sectoral and state-by-state effects critical for planning.
On some of the key findings of the flood assessment, the report stated that all the 36 states and the Federal Capital Territory were affected by the 2022 flood in Nigeria with varying degrees of damages and people affected.
“This analysis estimates that the total direct economic damages, based on currently reported statistics as of November 25, 2022, are in the range of $3.79 billion to $9.12 billion, with the best (median) estimate at $6.68 billion.
“This includes damages to residential and non-residential buildings (including building contents), as well as damages to infrastructure, productive sectors and to cropland”, it reads
Farouq explained that the number of persons affected rose above 4.9 million as of November 25, 2022, with significant damage to infrastructure, including roads, irrigation and river, as well as electricity projects, with around $1.23 billion ($0.959 – $1.724bn) in damage expected.
Farouq further explained that the GRADE Note was a fast first-order approximation of the economic impact, and provided a rapid high-level estimate of damages used to inform ongoing decisions in a timely fashion.
“It was developed using the empirical data defined in this document, calibrated against historical data and experience, including the 2012 Nigeria Floods (Post-Disaster Needs Assessment). The period of analysis is from June 2022 to November, 25, 2022,” the minister stated.
She called on the National Commission for Refugees, Migrants and Internally Displaced Persons to utilise the GRADE assessment to plan the recovery and rehabilitation of victims of the flood.
The Permanent Secretary of the ministry, Nasir Sani-Gwarzo, said the ministry and the National Emergency Management Agency jointly sought a preliminary and quantitative spatial damage assessment, which was considered to be faster than a traditional Post Disaster Needs Assessment and fairly accurate, with technical support from the World Bank Group.
He said, “The GRADE approach was with the collaboration of many stakeholders including NIMET, NARSDA, NIHSA, NSCDC, and the GRADE assessment was conducted between November 14 to 28, 2022, after the flood water had receded in most parts in the country from June to November 2022.

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Minister Constitutes Tech Committee On Aviation Ties With Angola

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Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, has constituted a technical committee to work with the Angolan Embassy on deepening aviation ties with Nigeria.
Special Assistant on Media and Communications to the Minister, Mr. Tunde Moshood, in a statement, said the committee would oversee logistics and help solidify plans for the Minister’s visit and potential areas of collaboration.
This development is coming after Keyamo received the Angolan Ambassador to Nigeria, Jose Bamoquina Zau, and his Deputy, Nelson Paulo Kafikiri, in Abuja.
The statement revealed that the Angola’s Minister of Transport, Dr. Ricardo Viegas de Abreu, was keen to build a synergy between both nations and was eager to tap into the wealth of experience of Nigeria’s aviation leadership.
According to the statement, “The visit is aimed at strengthening aviation ties between Nigeria and Angola, particularly as Angola embarks on a new era for its aviation industry.
“The Angolan delegation brought positive updates on the progress of Angola’s aviation sector, specifically highlighting the recent overhaul of its airport infrastructure.
Ambassador Zau informed Keyamo that the new airport, set to serve as a strategic hub for the region, will be officially inaugurated in one month’s time.
In delivering a message from the Angolan Minister of Transport, Ricardo de Abreu, the Ambassador conveyed the Minister’s warm greetings and underscored Angola’s eagerness to foster collaboration with Nigeria.
He expressed interest in exploring a bilateral air services agreement and other mutually beneficial opportunities within the aviation sector.
Ambassador Zau also extended an official invitation from Minister Ricardo de Abreu for Keyamo to attend the grand opening of Angola’s new airport next month.
He emphasised that both nations stand to gain from deeper cooperation, particularly in aviation business and infrastructure development.
In response, the aviation Minister expressed appreciation for the visit and congratulated the Angolan government on its impressive strides in aviation infrastructure.
He affirmed his commitment to attend the upcoming event and signalled Nigeria’s readiness to work closely with Angola to enhance air connectivity and explore new business opportunities.
“To ensure seamless coordination ahead of the event, the Aviation Minister has constituted a technical committee to work with the Angolan Embassy’s team.
“The committee will oversee logistics and help solidify plans for the Minister’s visit and potential areas of collaboration.
“The meeting underscores the continued commitment of both nations to expand their aviation sectors and work towards a prosperous and mutually beneficial relationship”, Moshood stated.

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NIWA Wants Deeper Private Investment In Blue Economy

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The National Inland Waterways Authority (NIWA) has called for deeper private sector participation in the blue economy initiative to harness greater benefits from it, for national development.
The Authority also commenced moves to improve security across the nation’s Waterways, in a bid to attract private investment into the Blue economy.
Managing Director of NIWA, Mr. Bola Oyebamiji, who disclosed this to newsmen during the tour of Wari and Onithsa area offices, said NIWA is determined to revamp the nation’s economy by consolidating on Public/Private Partnerships (PPP) initiatives.
“This initiative is part of our deliberate plans to open up new opportunities to maximise full economic potentials of the nation’s waterways.
“The PPP is the way to go but we need people or investors, who have genuine intentions and purposes to enable us align with President Bola Tinubu’s Renewed Hope Agenda for economic recovery”, he said.
The agency’s boss tasked the staff to live up to expectation by working harder in revenue generation that could open rooms to better their welfare.
He warned the staff against indolence and laxity since he was committed to staff welfare and revenue generation
According to him, there is need for the staff to be disciplined and committed by rededicating themselves to the growth and development of the Authority.

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Discount Airfares: Qatar Airways, Access Bank Extend To Dec

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The Qatar Airlines, in its efforts to further ease financial burden of air passengers, has extended its discount partnership deal with Access Bank till December 2024.
Access Bank customers, who book their flights online using Qatar Airways’ website in this deal, enjoy up to 12 percent discount on both business and economy classses.
The Bank’s customers, using the promo code “ACCESS”, can book flights to any destination in the world and travel.
Qarta Airline, in a statement through the Vice President–Africa, Hendrick du Preez, stated that the partnership reiterates the Airways’ commitment to streamline travel within and across African markets by delivering first-rate services and offerings to passengers.
“As we are in the summer season and passengers tend to want to travel to spend time with loved ones, our priority at Qatar Airways remains broadening opportunities to travel for our passengers in the African market.
“Although Africa stands as the most underserved market, we strongly believe in the power of partnerships like these in transforming travel within the continent.
“We are proud to partner with respected pan-African financial institutions like Access Bank to provide innovative incentives for passengers and customers”, he stated.
This is coming on the heels of Qatar Airways’ recent expansion of routes across the African continent along with increased flight frequencies in various locations.
Also in the release, Access Bank’s Executive Director for Corporate and Investment Banking, Iyabo Soji-Okusanya, expressed enthusiasm about the partnership.
“Our team is delighted to collaborate with Qatar Airways to bring exceptional travel benefits to our valued customers. This offering aligns with our commitment to enhancing the overall experience for those who choose Access Bank and continue to do so every year.
“By providing exclusive discounts on Qatar Airways flights, we aim to make travel more accessible and enjoyable for our customers”, Soji-Okusanya said.

Corlins Walter

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