The World Bank Group has disclosed that poor sanitation costs Nigeria N455 billion each year, which is equivalent to $3 billion.
The bank's Senior irrigation and Drainage Specialist, Wilfred Hundertmark, disclosed this while presenting a "draft proposed for consideration on water security strategic framework for Nigeria 2026-2040" at the opening of technical session of the 31st regular meeting of the National Council on Water Resources and Sanitation (NCWR &S) in Uyo yesterday.
Hundertmark explained that water security was about ensuring access to and utilization of available water resources at acceptable levels of risks.
He added that there was unprecedented level of floodings in 2012 and 2022, and that the latter was costing Nigeria $6.681billion, which is 23 per cent of all water facilities breakdown in their first year of operation (WASHNORM 2022).
His words: "Poor sanitation costs Nigeria N455 billion each year, equivalent to $3 billion. This sum is the equivalent of $20 per person in Nigeria per year, or 1.3% of the national GDP.
"On food insecurity, approximately 79 per cent of Nigerian farmers were impacted by the damaging effects of drought and flooding in 2020 (SBMIntel).
"Food imports have more than quadrupled in recent decades, amounting to $4.57 billion in 2016. Less than two per cent of agricultural farmland is irrigated."
On the vision statement, the World Bank Group representative, said: "Water security in Nigeria is widely acknowledged as an economic outcome resulting from the adoption of integrated water resource management, |WRM, and enhanced water management through improved, resilient water systems.
"These systems are tailored to local conditions, appropriately designed, and professionally managed to provide essential water services.
"Effective water management will be underpinned by adequate institutional arrangements, with responsibilities shared among federal, state, and local administrative levels.
"Investments in advanced water storage, resilient water management systems, information, and institutions will substantially reduce the opportunity cost of inaction.
"This will lead to improvements in public health and well-being, enhanced irrigation, stabilized food and electricity supply security, and protection of society against climate-related risks and environmental degradation. Funding mechanisms will be transparent and accessible to facilitate investment."