Numerous businesses in Nigeria have been severely hampered by flooding. The survival of enterprises and flooding are directly related.
According to an analyst, the flooding problem has cost the Nigerian economy and businesses more than N1 trillion in only the past two weeks.
The worst affected states in Nigeria by the flood are Kogi, Benue, Anambra, Niger, Nasarawa, and others.
According to the National Emergency Management Agency, many homes have been flooded, a sizable portion of dry ground has been cut off, over 80 lives have been lost, and 600,000 people have been forced to evacuate (NEMA).
Travelers have endured severe discomfort as a result of the flooding on the federal route between Lokoja and Abuja. Food delivery trucks that travel from the South to the North and the North to the South have stalled.
NEMA outlined the nightmares some Nigerians are experiencing as a result of the fatal flooding this year, a problem that now calls for international assistance.
The flood crisis, according to Kogi State Governor Yayaha Bello, is a catastrophe on the verge of hell.
He said that the hardest-hit Ibaji region in Kogi State is “100% underwater” and urged prompt action.
In an interview with PulseNets on Wednesday, Financial Inclusion/Wealth Management expert, MD/CEO SD & D Capital Managment Limited, Mr Idakolo Gbolade stated that the Nigerian economy and businesses had lost over N1 trillion Naira in two weeks due to this year’s flooding.
According to him, “The recent flooding affects most agrarian areas in Nigeria, thereby affecting the availability, cost of food products.
“The flooding has affected Nigeria economy and businesses greatly. Billions of businesses plying the Lokoja-Abuja road have been stranded for over 15 days now. For instance Fuel Tankers using Lokoja road to supply Premium Motor Spirit(PMS) to North Central and Abuja have been held up in Lokoja because of the flooding crisis. This will no doubt affect businesses relying on fuel for energy.
“Also, Irish potatoes, tomatoes, pepper, onions, carrots, yams and others food Items have witnessed sharp rise as a result of the flooding. The cost of transporting goods through alternative routes is higher, hence, the price increase.
“The Nigeria Economy and businesses have lost over N1trillion naira in two weeks to this year’s flooding crisis”, he stated.
Prof. Mansur Matazu, Director-General of the Nigerian Meteorological Agency, revealed on Tuesday that the North Central and Southern zones could expect further flooding.
Meanwhile, there have been calls for both immediate and long-term solutions to the flooding situation.
