The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.