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 Cap
The federal government has estimated that a direct median economic loss of $6.68 billion was incurred by the Federal Capital Territory and the 36 states of the federation during the nationwide floods that ravaged the country last year.
Presenting the key findings of the report, Farouq said all the 36 states and the FCT were affected by the 2022 flood, considered the worst in the country. The report noted that damage to agricultural crops, associated water infrastructure, fisheries and livestock was severe, noting that over 650,000 hectares of crops were destroyed. It estimated the loss to the agricultural sector at $1.8 billion. The worst affected states, according to the report, are Jigawa, Rivers, Taraba, Cross River, and Delta.
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