A devastating flood in Maiduguri, Borno State, caused an estimated N27 billion loss in nine days. The flood submerged over 70% of the city, disrupting daily trade. Donations totaling N21 billion have been pledged for recovery efforts by various state governments, corporate entities, and individuals.
A catastrophic flood lasting nine days in Maiduguri, the capital of Borno State, has resulted in an estimated N27 billion in economic losses. The flood, which affected over 70% of the city, severely disrupted business activities, with the daily loss estimated at N3 billion. Maiduguri, a vital trading hub, generates substantial income from its commercial and agricultural activities, contributing significantly to the state's economy. Alhaji Ahmed Ashemi, President of the Borno Chamber of Commerce, explained that the city plays a crucial role in trade, second only to Lagos in Nigeria. The popular Monday market alone typically accounts for N1.5 billion in daily transactions.
Various stakeholders have stepped up to provide aid in response to the flood. So far, N21 billion in donations and support have been pledged by state governments, corporate bodies, and individuals. Notable contributions include N2 billion from Aliko Dangote and significant donations from several state governments. Governor Babagana Zulum of Borno State acknowledged the outpouring of support and assured that the government will provide further details regarding the use of funds and materials once all pledges are fulfilled.
The state is now focusing on recovery efforts to address the disaster's impact on businesses and local livelihoods.
