The recent nine-day flood in Maiduguri, Borno State’s capital, has inflicted devastating economic losses, totaling about N27 billion. Maiduguri, a hub for trading and agriculture, typically sees business transactions worth over N3 billion daily. The flooding, which submerged around 70% of the city, disrupted these transactions for nine consecutive days,leadership reports.
Alhaji Ahmed Ashemi, president of the Borno Chamber of Commerce, highlighted Maiduguri’s importance as a significant trading center, second only to Lagos in terms of cross-border commerce in Africa. The Monday market alone generates approximately N1.5 billion daily, contributing to the city’s N3 billion total business revenue. With many small businesses impacted by the flood, the city lost over N3 billion each day during the disaster.
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In response, corporate entities, state governments, and individuals have pledged and provided donations totaling N21 billion, with more contributions still expected. Some notable donations include N2 billion from Aliko Dangote, N1.5 billion from Aminu Dantata, and various amounts from several state governments and prominent figures. The Borno State government continues to manage these donations, with further details on material support and redeemed pledges to be announced later.
