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Effect of climate change on real estate in Nigeria

Effect of climate change on real estate in Nigeria

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Maduka Nweke

The effect of climate change could be felt differently by different people in different climes. Nigeria has really felt the negative impact of the change in climate at least much this year.

The country is currently having unprecedented rainfall and massive flooding that has wrecked havoc in not less than ten states and still counting.

An instance of this is that Anambra State Government established about 28 shelter camp centers in the flood prone areas of the state to help cushion the effect for the flood ravaged people of the state. Other flood prone states also did the same or similar thing to reduce the adverse effect of the flooding in their respective states.

The 28 shelter camp centers were established before the flood increased meaning that more camp centers will be established to reduce long journeys for people not living close to the established centers.

The State Government approved the establishment of 28 emergency shelter centres in flood prone areas to help in the amelioration of hardships for the people. The 28 emergency shelter centres are in some flood prone local government areas of the state like; four in Awka North, three in Ihiala, Idemili South, two in Ayamelum, four in Ogbaru, six in Anambra West, six in Anambra East and two in Ekwusiego.

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The emergency shelter centres were set up in flood prone Local Government Areas’ secretariats or headquarters. The State Government, however, urged residents to get prepared for emergency evacuation or relocation, in case of flood disaster.

The residents have also been urged to have a small box, where they should put relevant and vital documents, as well as be ready for evacuation anytime the need arises. It is believed that with the forecast of Nigeria Hydrological Services Agency (NIHSA) and Nigerian Meteorological Agency (NiMet) on flooding in 2018, it might likely be in the same magnitude of 2012, so SEMA had planned ahead.

Imagine a world with affordable, clean energy, sustainable cities and communities, and decent work and economic growth for all. That is the world the United Nations imagined when it defined the 17 Global Goals for Sustainable Development with “the desire to create a future where there is no poverty, the planet is protected, and all the people enjoy peace and prosperity.”

But the reality is, that world can’t exist without the equal participation, and leadership, of women as business and political leaders, investors, and contributors to the global economy. Just look at recent events in Nigeria. People are already blaming climate change for the kind of flood ravaging some states in the country. People are also saying and confirming that the kind of rain these days and the kind of flood noticed have not been the usual.

The kind of cold whether that go with it is also very unusual. That is climate change. For instance, in Kogi, Delta
State, Beyelsa, Edo, Benue and other states, their roads have been cut off making road users go through untold hardships to meet their daily needs.

You might know what weather is. Weather is the changes we see and feel outside from day to day. It might rain one day and be sunny the next. Sometimes it is cold. Sometimes it is hot. Weather also changes from place to place. People in one place might be wearing shorts and playing outside. At the same time, people far away might
be shoveling snow while others will be busy bailing water.

Climate is the usual weather of a place. Climate can be different for different seasons. A place might be mostly warm and dry in the summer. The same place may be cool and wet in the winter. Different places can have different climates.

You might live where it snows all the time. And some people live where it is always warm enough to swim outside. There’s also earth’s climate. earth’s climate is what you get when you combine all the climates around the world together. New research shows that real estate properties in areas affected by extreme weather and sea level rise are losing value relative to less exposed properties.

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The effects are already substantial, but they may point to a looming collapse as climate change makes coastal communities untenable. There is no gain saying the fact that man depends on his environment for existence and sustenance such that man’s life is shaped by his environment and this underscores the need for the protection of
the environment from all forms of degradation, especially those brought about by the activities of man.

Realising the significance and inevitability of the environment for survival of man, environmental experts have been arguing vociferously that without the environment man cannot exist since human activities are made possible by the existence of his environment.

Nowadays, environmental issues are receiving attention at global levels and the global communities are continuously making efforts towards ensuring that the world is a better place for human habitation.

Undoubtedly, the world continues to be under the threat of climate change problems like global warming, greenhouse gas effects, flooding, acid rain typhoons, rising sea levels, soot as is currently in PortHarcourt, rising sea temperatures resulting in depletion of marine organisms, earthquakes, wind storms, land and mud slides, desertification, tsunami, erosion, volcanic activities, hurricanes, pollution, deforestation among several others.

One of the great ironies of those historic housing patterns in Miami, America is that for decades under Jim Crow, laws and zoning restricted black people to parts of the urban core, an older part of the community that sits on relatively higher ground along a limestone ridge that runs like a topographic stripe down the eastern coast of South Florida.

Now, many of those neighborhoods, formerly redlined by lenders and in some places bound in by a literal colour
wall, have an amenity not yet in the real estate listings: They are on higher ground and are less likely to flood as seas rise. Whether it is climate change or an eye for good real estate returns, historically black communities on higher ground are increasingly in the sights of speculators and investors.

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Real estate investment may no longer be just about the next hot neighborhood, it may also now be about the next dry neighborhood. Although no region of the world will be entirely spared, the negative impacts are likely to fall most heavily on poor nations in the tropical region. While data on the global impacts of climate change is available, those at regional levels are scanty and scattered. This is why there is a study that took a general overview of climate change impacts in Nigeria.

Mean annual and monthly temperature and rainfall data were collected from the Nigerian Meteorological Agency and some States’ airports for a period of 105 years (1901-2005). Published data from different sources as acknowledged in the text were also used.

Histogram, trendline and time series were the statistical tools employed to analyse the data. The results show that while temperature increased by 1.1 OC for the 105 years, rainfall decreased by 81 mm. Desert encroachment,
coastal inundations, drying up of surface waters and shift in crops cultivated over time were also noticed.

Greenhouse gas reduction and adaptive measures were recommended.

The post Effect of climate change on real estate in Nigeria appeared first on The Sun Nigeria.

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