The Federal Government on Friday said flood which ravaged various parts of the country led to an estimated economic loss of $9.12bn (N4.2tn as at Friday’s official exchange rate of N460.78/$).
This was disclosed on Friday during a post-disaster assessment report on the 2022 flooding by the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
The Minister, Haija Sadiya Farouq, said the impact of last year’s flood is unimaginable.
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“This analysis estimates that the total damages, based on currently reported figures as of 25 November 2022, are in the range of $3.8bn to $9.12bn, with the best (median) estimate at $6.68bn”.
“This includes damages to residential and non-residential buildings (including building contents), as well as damages to infrastructure, productive sectors and to cropland.”
