Leadway Assurance CEO urges readiness as flood threatens communities, businesses

Nigerian communities, businesses, and individuals have been called to take immediate and proactive steps in anticipation of severe flooding being expected in parts of the country, according to a recent forecast by the National Emergency Management Agency (NEMA).

Gboyega Lesi, chief executive officer of Leadway Assurance Company Limited, who made the call emphasised the importance of making adequate preparation through insurance.

In a July report presented at a forum in Abuja, NEMA predicted an increase in flooding incidents across 33 states from August through October. The agency urged various sectors to begin taking precautionary measures immediately.

Lesi also reechoed NEMA’s warnings, emphasising the seriousness of the situation: “Flooding poses a significant threat to communities across Nigeria, and the latest Nigerian Meteorological Agency (NIMET) report highlights the urgent need for proactive protection measures for individuals, families, properties and investments.”

Lesi underscored Leadway Assurance’s dedication to equipping Nigerians for rapid recovery from disaster impacts through its specialised insurance solutions tailored to the distinct challenges posed by flood-related risks.

“Our comprehensive policies offer robust protection, empowering individuals and businesses to recover quickly and effectively after a flood. We understand that each flood scenario is different, and our coverage is flexible enough to meet specific needs and circumstances.”

The Nigerian Bureau of Statistics reported that the 2022 flood disaster, deemed the worst in decades, caused about $9.12 billion in direct economic damages, as the Federal Government and the World Bank estimated.

The assessment reveals extensive damage to residential and non-residential buildings, businesses, households, and public infrastructure and significant disruption to productive and agricultural sectors. The financial impact is overwhelming, underscoring the need for urgent action.

Leadway Assurance is steadfast in helping Nigerians navigate these challenging times. The company assures all Nigerians that its dedicated team is ready to provide guidance and support to mitigate risks and facilitate swift recovery.

Modestus Anaesoronye

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.