January 21, 2025
Lagos to build financial resilience, adopt risk transfer against water-related disasters
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Lagos to build financial resilience, adopt risk transfer against water-related disasters

Lagos to build financial resilience, adopt risk transfer against water-related disasters

Folayinka Dania, the resilience officer at Lagos State’s Resilience Office (LASRO), says the government is committed to building financial resilience to combat water-related disasters. Speaking at the 2025 Global Risk and Resilience Fellowship Workshop, she outlined plans to adopt proactive risk management strategies.

The workshop, organised in partnership with the Resilient Cities Network and Howden Insurance Brokers, brought together experts, policymakers, and stakeholders. Dania highlighted the importance of integrating insurance fundamentals and risk transfer mechanisms to strengthen water resilience in the state.

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Nnamdi Udeh, the state team lead of advisory services at Arup, explained that the event aimed to explore how insurance solutions, such as parametric and index-based insurance, can address water risks in Lagos. He also noted the need for greater awareness of these challenges.

The workshop concluded with key recommendations, including the establishment of a water risk insurance facility and mobilising investments for water resilience projects. Participants also identified opportunities for green infrastructure, water efficiency projects, and climate-resilient water management systems in Lagos.

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