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Editorial Suite

Odds against downstream deregulation - By Chijama Ogbu

 

Profile

Bar. Bello Mahmud: The New Registrar General for CAC

 

Cover

No 2nd Term for YarÁdua – Billionaire Debtors Vow

 

Facts and figures

Federation Account: How They Share N332bn in October

 

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

List of Federal Perm. Secs and their States - Non from Bayelsa

 

List of Major Debtors in Nigeria

 

Exclusive Interview

No more Needless Borrowing in Public Offices - Aliyu Yelwa, Boss of Fiscal  Commission

 

Monetary

CBN Supports Deregulation, Allows ETB to Rectify Lapses

 

Communiqué No. 66 of the Monetary Policy Committee Meeting

 

List of Major Debtors in Nigeria

 

National News

SMEDAN Advises Small Businesses on Good Idea

 

Odey Inaugurates Panel on IWMF in Niger Delta

 

Finally FG, States Share $2bn from Excess Crude Account

Honours for EFCC Boss in USA

 

State News

Kano Spends N1bn on Sports Development as Governor bagged ‘Sardauna’

 

IDB advances N3.15bn loan to KDSG as Governor Approves N18mn for Training 

 

 

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Economic Confidential, May, 2009

FEATURES

 

Raising the bar in flood management

By Saadatu Ovosi

 

Water is life. This is so because almost all living things are made up of and depends on water for survival. It is one of the most available resources provided by nature as more than three quarter of the universe is covered by water. Thus we have the seas, oceans, rivers, lakes, canals, springs, rains and streams. All these are sources of water. However, there exists limitation of access to some of these. Perhaps, the more pervasive are the rains and streams.

 

 It’s natural to look forward to the rains during the wet season of the year. The season comes with the blessing of replenishing lost water for domestic, agricultural and navigational uses among others.  It could also become a source of worry when the water becomes excessive resulting in flood to cause damages. Flood is a natural phenomenon that results from the overflow of the water course. Some of these occur as a result of heavy rains, dam breakage and blockage of the channels.

 

The occurrence of flood poises serious dangers to the particular area. The victims are exposed to numerous hazards while valuable resources such as crops and the plains are usually also affected. However, sometimes its occurrence results in somewhat blessing but these are usually insignificant when compared to the damages.  Statistics indicate that flood account for about 40 percent of all deaths caused by natural disasters, most of which are in the developing nations. For example, 3.7 million people were killed in a 1931 flood on China's Yangtze River. In 2000, four of the world's five largest natural disasters were floods. So far in this year, an estimated 500,000 people in Uganda have already been affected by the floods! Neighbouring regions in southern Sudan, Ethiopia and Kenya have also been badly hit.

 

Director General of National Emergency Management Agency retired Air Vice Marshal Mohammed Audu-Bida has observed that the impact of these disaster event is usually more pronounced on developing countries largely due to low levels of technological know-how, poor infrastructure, huge population and high poverty level among other problems. What is needed to be done, he said, is global collaborative efforts to manage the situation. The impacts caused by flood can be very enormous on the environment and society. At the domestic front, it destroys drainage system in the cities to cause raw sewage to spillage. It also affects buildings which could be significantly damaged. This is in addition to the catastrophic effect on the environment as many toxic materials such as paints, gasoline and chemicals can be released into the river, lakes bay and ocean, killing maritime life. Flood may also cause million of money worth of damage to a city, both evicting people from their homes and running business.

 

Flooding has become an inherent problem in most urban centres. In the last decade it has extended from the coastal areas to locations in the interior resulting from heavy rain falls. Studies have revealed that various socio-cultural activities promoted the flooding in many of parts of the Nigerian urban centres. These activities are characterised by stream or river channel encroachment and abuse, increased paved surfaces and poor solid waste disposal techniques, low degree of community awareness, poor environmental education, ineffective town planning laws and poor environmental management. Government, at various levels, needs to address these issues. Statistics has revealed that about 1.5 million people in 18 countries lost their homes and livelihoods, with several scores killed.

 

With the setting in of the rain the risk of flood is in the horizon for some locations. A firm and sustainable flood risk management is required. But this cannot be achieved in isolation – rather it should be a part of community development. In this circumstance, it is essential to build a community's capacity to understand their vulnerabilities, strategies, activities and the role they could play in managing flood risks without relying on external entities. Government and concern organization need to evolve a community-based flood hazard-mapping technique to address the fear of the disaster. The approach should be made to focus on the effective development of policies and correct the defects of the top-down approach in disaster planning and to encourage all stakeholders' participation in an integrated and sustainable manner. This way, flood risk can be reduced to the minimum.

 

 

Saadatu Ovosi (NYSC Member)

NEMA Office, ABUJA

   

SPECIAL FOCUS

List of Major Debtors in Nigeria

 

List of Bad Debtors in Federal Mortgage Bank of Nigeria (FMBN)

 

NEMA@10: The Story So Far

 

Questions and Answers on the Examinations of the 14 Banks by CBN

 

FEATURES

Africa's Foreign Reserves: In Reserve For Who?By Chika Ezeanya

 

Churches and Mosques Should Pay taxes - Mcdonald Koiki

 

Deregulating Robbery in Nigeria By Kola Ibrahim

 

Understanding Monetary Policy By Abubakar Jimoh

 

The Making of Ideal Economic Policies By: Salim Salihu Muhammed

 

The Putrid Mess Also in CBN By Les Leba

 

Still on Early Warning Alert System in Nigeria By Yushau A. Shuaib

 

District 9 and the Can of Wild Paradox by Segun Imohiosen

 

Nigeria: Time to Check to the Drift By Dansulieman Mohammed

 

Golden Casket: Between Gani Fawehinmi and Wacko Jacko- By Yushau A. Shuaib

 

NIGERIA@49: Tracing the Economic Intervention- By Abubakar Jimoh

 

NASENI: Striving to end Nigeria’s reliance on foreign good – By Umar Kari

 

Macroeconomic Framework for an Independent Economic Recovery- Salihu Muhammad

 

When Sony Undermines Campaigns of Akunyili and Aoandoka- By McDonald koiki

 

Archetypal Resurgence: The Lamido Sanusi Revolution- By Segun Imohiose

 

Banks and Money Laundering- By Les Leba

 

Oronsaye’s Civil Service reform- By hussaini Sani kagara

 

New Policy in the Civil Service: Hypocrisy at Work? –By Tope Ajakaiye

More Features

 

TAX MATTERS

* Church and Mosque Not Exempted from Tax - FIRS

… Use of Consultants for Tax Collection is an Aberration

*Finance Minister Advocates Partnership on Tax Issues

*FIRS Reopens PAN, Vows to Prosecute Defaulters

*How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss

*FIRS Generates Taxpayers Numbers for Bank Customers

*Historical Milestone as Online Tax Payment Begins

*FIRS Seals Two Oil Companies Over $610m Tax Arrears

*Firms Owed Govt N260b in Taxes

*Tax Identification Number to Reduce Tax Evasion- FIRS Boss

*Revenue Agencies to Make Full Disclosure- Finance Minister

*FIRS Delists 2 Banks over Non-Remittance of Tax