The United Nations study detailing the devastating economic impact of the ongoing conflict in the North East of Nigeria illustrates how violence have led to a dire economic downturn, affecting not just the conflicted region but the country as a whole.
The study reveals that as of 2021, the Nigerian economy was 2.5% smaller than it would have been without the conflict, equating to a cumulative loss of approximately $100 billion over the last ten years.
Furthermore, over 2 million people currently remain displaced, and around 1 million children have missed school due to the armed conflict.
To tackle the challenges, the government set up the North-East Development Commission, (NEDC)
Vice President Kashim Shettima has now asked the Commission to prioritise investments in legacy projects, including agriculture, education, and smart transportation.
Shettima spoke when the board and management of NEDC presented the North-East Stabilisation and Development Master Plan to him at the Presidential Villa, Abuja.
He urged the commission to be prudent with its resources and invest in projects that will have a lasting impact on the region.
VP Shettima, in a statement by his media aide, Stanley Nkwocha, noted that President Tinubu will leave no stone unturned in ensuring that total security is returned to the North East region.
Senator Shettima noted the numerous challenges confronting the North East region.
Speaking to journalists after the closed-door meeting with the Vice President, the Managing Director of the NEDC, Mohammed Alkali said the document presented was in fulfilment of Section 8(1)(c) of the NEDC Act, which stipulates that the commission shall develop a Master Plan, based on the needs assessment of the zone.
The 10-year North-East Development Masterplan has four implementation phases, 11 pillars, and 529 schemes and programmes.
Mohammed Alkali- Managing Director of the NEDC