FG urged to incorporate flooding, natural disasters in budget allocation

on   /   in Business 12:30 am   /   Comments

By PETER EGWUATU

Federal and State Governments have been urged to consider flooding and other natural disasters in budget allocation and also put in place insurance schemes and other processes that would protect the citizens against human and natural disasters currently prevalent in the country.

The Managing Director/Chief Executive Officer of Custodian and Allied Insurance Plc, Mr. Wole Oshin, made the call recently at the Delta State Liaison office in Lagos when his firm donated relief materials to Delta State flood victims.

According to him, nobody expected some of the crises (human or natural causes) being witnessed in the country. He stressed that now that natural disasters have started to happen, governments at both state and federal levels should put in place structures and processes to mitigate the risks.

He noted that  government cannot continue to fund the enormous disaster  that are beginning to happen as a result of climate change or  general recklessness among Nigerians.

In his words, “Some years ago, we never thought some of the disasters we are seeing in Nigeria could happen. We do not know when it would happen next and when it happens, will we go through this process again of raising fund, donating materials and so on. This is not a sustainable approach.

The more sustainable approach is risk management and in so doing, it is important  and critical for  government to  embrace insurance  such that  a  fixed  sum of money  is set aside  and at the end of the day,  they call on insurance  companies who are experts in this area to pay claims and restore  the people back to where they were prior to the losses”

Speaking on the relief materials (1,000 mattresses) presented to Delta State, Oshin said it was part of Custodian and Allied Insurance  Corporate Social Responsibility (CSR) to give back to society where they operate.

According to him, “ When this (flood)happened months ago, we thought of how to help communities that were displaced and Delta State came to our mind because of the enormity of  flood in that region.”

Receiving the relief materials on behalf of the Delta State Government, Commission for Information, Mr. Chike Ogeah, said,  Delta State thanked the company and others who had rendered similar support for their kind gestures. You have come to donate to displaced people. On behalf of Delta State government and the good people of Delta State, we say thank you to Custodian and Allied Insurance Plc.”

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