How Nigeria lost $9 billion to Boko Haram

The Presidential Committee on North East Initiative on Thursday, October 27, said, about $9 billion has been lost the insurgency in the North east region of Nigeria.


The committee said the huge amount was lost to the destructive activities of Boko haram terrorists in the region, Punch reports.


The committee led by former minister of defence Theophilus Danjuma also said a strategic framework would soon be inaugurated by President Muhammadu Buhari with the aim of rehabilitating and ongoing reconstruction in the region.

The vice chairman of the committee Tijani Tumsah while briefing journalists in Abuja said the committee is set to map out plans that would enable it deliver on its mandate.

Tumsah said the committee would also focus on analyzing the weight of its task with a view to fulfilling the mandate given by President Muhammadu Buhari.


He further clarified reports that the committee has been tasked with probing alleged diversion of relief materials meant for the internally displaced persons in the region.

Tumsah said: “We are not investigating anybody; there are people who are investigating such diversions. I’m glad you mentioned the Senate, the House of Representatives, police and the EFCC.”

“Our mandate, going forward, is to provide a strategic framework for the implementation of all interventions going into the North-East in terms of humanitarian works, resettlement and eventual rebuilding of the North-East.

“In terms of cost, there is an immediate, short-term and long-term view. The entire rebuilding of the North-East, of course, will keep changing. But we do know that a substantial amount of resources estimated at $9bn have been lost to insurgency

“We are going to channel this strategic framework through a document that we have developed, that is going to be launched very soon. It is the plan of President Muhammadu Buhari to rebuild the North-East. That is the strategic implementation going forward.”

Tumsah said funds meant for rebuilding the North East was donated for a particular purpose – rehabilitation of the victims of terrorism.

Boko Haram terrorists began its activities after its leader Yusuf Ali was killed the Nigeria police is Maiduguri Borno state.

Since the group’s emergence, destruction in the North East has continued with massive loss of lives and property.

Also, the group’s activities have led to the displacement of resident in three significant states – Borno, Yobe and Adamawa states – in the region.