Nigeria lost N4.2 trillion due to the floods in 2022, according to the Minister

The floods of 2022 cost Nigeria N4.2 trillion and wreaked havoc throughout the nation.

The Federal Government said on Friday that the flood in various regions of Nigeria caused an estimated $9.12 billion (N4.2 trillion) in economic losses (based on Friday’s official exchange rate of N460.78/$).

This information was released by the federal government on Friday at the Ministry of Humanitarian Affairs, Disaster Management, and Social Development’s post-disaster assessment report on the floods of 2022.

The impact of the flood from last year, according to Minister Haija Sadiya Farouq, is unfathomable.

“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”.