The World Bank Group’s Board of Executive Directors has approved $200 million credit to improve Oyo State’s disaster risk management capabilities, strengthen community-based resilience capacity and provide support for risk assessment and early warning systems in Ibadan, the state capital.
The bank noted that the most recent floods of August 2011 in Ibadan, caused significant human and economic losses primarily in housing, education, agriculture and transport.
Marie-Francoise Nelly, the World Bank Country Director for Nigeria, stated that recognising the need for an integrated and long-term solution to flooding in Ibadan, the Oyo State government requested the bank’s support to finance a flood management project.
She added that the Ibadan Urban Flood Management project would benefit the 3.1 million people living in the city, and specifically the 40,200 who reside in flood prone areas.
According to her, the project would establish early warning and flood response actions and also finance the rehabilitation of Ibadan city drains, roads and bridges, as well as restore the flood damaged Eleyele dam.