Nigeria lost N4.2 trillion due to the 2022 floods which ravaged various parts of the country.
The flood in various parts of Nigeria led to an estimated economic loss of $9.12bn (N4.2tn as at Friday’s official exchange rate of N460.78/$), the Federal Government announced on Friday.
The federal government disclosed this 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.
“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”.