From building collapse to fire incidence, road, sea, rail and air mishap, tanker explosion, insecurity challenge, flood and workplace accident, Nigeria has been hugely impacted by varying degrees of natural and man-induced disaster that have rubbed off negatively on human lives and national purse.
For instance, a recent report by Nigerian Investment Promotion Commission (NIPC) revealed that Nigeria lost about $188bn investment opportunities between 2017 – 2020, representing more than 92 percent investment opportunities in four years.
But according to a former Director General of Lagos Chamber of Commerce of Industry (LCCI), Muda Yusuf, this is not unconnected to low level of investors’ confidence, fueled by structural problems of infrastructure and worsening security situation, amid other uncertainties in the country.
Lives lost to disaster and emergency in the country are immeasurable even as report by InterNations described Nigeria as the third most dangerous place to live in the world with regards to safety and security, after South Africa and Brazil.
According to media report, between 2019 and 2021, Nigeria recorded no fewer than 68 fire outbreak resulting in 79 deaths which the Federal Fire Service (FFS) identified electrical spark as the major cause of most outbreak.
Reports by Brookings also put Nigeria has number one in the frequency and intensity of building collapse in Africa. The report further identifies that no fewer than 6000 households were displaced by building collapse with property worth of $3.2 trillion forfeited.