FG: $6.68bn Economic Losses Incurred in 2022 Floods  


Olawale Ajimotokan in Abuja

The federal government has estimated that a direct median economic loss of $6.68 billion was incurred by the Federal Capital Territory (FCT) and the 36 states of the federation during the nationwide floods that ravaged the country last year.

The losses include damages to residential and non-residential buildings as well as damages to infrastructure, productive sectors and to farmland.

Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, revealed this in Abuja yesterday during the presentation of the Global Rapid (Post Disaster) Damage Estimation (GRADE) Assessment Report of the 2022 flood situation in Nigeria. The report said the loss incurred was based on currently reported statistics as of November 25, 2023 put in the range of $3.79 billion to $9.12 billion. 

Presenting the key findings of the report, Farouq said all the 36 states and the FCT were affected by the 2022 flood, considered the…

Source: Thisday Newspaper