Flooding in Borno leads to N27bn loss within 9 days

Borno State has suffered severe economic damage following nine days of unrelenting floods in its capital, Maiduguri.

The devastating floods have resulted in an estimated loss of N27 billion, paralysing business activities in the city, which is a key trading hub for agricultural products.

According to the Borno Chamber of Commerce, Industries, Mines, and Agriculture (BOCCIMA), Maiduguri trades over N3 billion daily, with a significant portion generated from the Monday Market alone.

“Maiduguri is an essential trading station, comparable only to Lagos in terms of border trade across Africa,” BOCCIMA President, Alhaji Ahmed Ashemi, said.

He further explained that the flood submerged over 70% of the city, causing widespread disruption to economic activities and trading for nine days straight. “The estimated losses from the disaster reach over N3 billion per day,” Ashemi added.

In response to the crisis, donations and support have started pouring in. As of Wednesday, pledges and actual receipts totalled N21 billion, including contributions from corporate entities, state governments, and prominent individuals.

Among the key donors are the North East Development Commission with N3 billion, Aliko Dangote with N2 billion, and Aminu Dantata with N1.5 billion.

Former Vice President Atiku Abubakar and Peter Obi also contributed N100 million and N50 million, respectively.

The Borno State Government, through the Senior Special Assistant on Social Media, Abdulrahman Bundi, acknowledged the ongoing support but clarified that not all pledges had been received yet. “Details of redeemed pledges and material support will be announced in due course,” Bundi noted.

With such massive losses, Maiduguri’s recovery will depend heavily on continued support from both private and public sectors.