Thoughts on Economic Impact of Flooding in Nigeria.

 Nigeria was supposed to complete a Dam called Dasen Hausa Dam in Adamawa in 1982, but we didn't till date. And that is why Nigeria gets flooded when Cameroon releases water from it's Lagdo Dam. 

Today, about 27-33 states are experiencing flooding issues because of failure of governments environmental policy and general incompetence in the area of environment. Even when a leading presidential aspirant says that he will ask the Western world to keep "their climate change" to themselves. He doesn't  realize that climate change is more of our problem, just like it's that of the West. 

Food inflation will be high next year and will easily take headline inflation to the region of 30-35% before end of 2023. So Nigerians, brace up. And don't forget that it is an election year, so money supply will go up, so the inflation projection  can easily rise to 37%.

A double digit increase in headline inflation will mean an increase in interest rates further slowing down economic output and slowing down job creation or leading to job losses. We need to invest in remote skills and restructure post-graduate human capital skills desperately to encourage forex earnings and coping off the youth population, and to also discourage brain drain. Waste should be cut at state level and invested in critical sectors like education and health to prevent loss of health workers. 

We can cope with floods and use counter-cyclical tools to fight inflation. But the loss of our best brains, especially our health workers and teachers can reduce the quality of human capital drastically, making it difficult to achieve faster recovery of economic loses.