“2022 Floods Inflict $7bn in Economic Losses – FG”

In 2022, Nigeria faced $7bn in direct economic damages due to floods, according to the Federal Government. Moreover, over 600 lives were tragically lost in what’s described as Nigeria’s most severe climate change aftermath.

This information was conveyed by Vice President Kashim Shettima during an event under the United Nations Framework Convention on Climate Change in Abuja. His Deputy Chief of Staff, Ibrahim Hassan, delivered his address. Shettima remarked on the floods from the previous year, referencing a World Bank assessment that pinpointed the damage costs. He equated the financial toll to 1.6% of Nigeria’s GDP from 2021, emphasizing the devastating human cost as well.

Vice President Shettima underscored the magnitude of the climate change crisis, especially given Nigeria’s position among the top 10 countries most susceptible to its effects. This vulnerability exists despite Nigeria’s minimal contribution to global carbon emissions, with the African continent accounting for less than 4% of global emissions.

Highlighting personal experiences, Shettima said many from Nigeria’s North-East, including himself, have firsthand experiences of climate change’s harsh realities, such as droughts, changing rainfall patterns, desertification, and severe flooding, which ravage landscapes, infrastructure, and communities.