Local
Lagos Insured Itself Against Flooding for $7.5 Million, But the Actual Risk Is Priced at $40 Billion
Lagos has bought Africa’s first high-tech flood insurance policy, using satellites to monitor the rain and Germany to monitor the bill. Unfortunately, the $7.5 million safety net is now standing bravely in front of a $40 billion problem with the confidence of a nylon bag in Lekki floodwater.
Nyesom Dwala