The Boko Haram insurgency has caused $9 billion of damage in six northern Nigerian states since 2011, according to the office of Vice President Yemi Osinbajo. At least $6 billion is needed for “immediate and near-term stabilization,” Osinbajo’s office said in an e-mailed statement on Monday, citing the Nigeria Recovery and Peace Building Assessment report. The World Bank, European Union and United Nations helped draft the study.
The Islamist militants have killed at least 20,000 people and displaced hundreds of thousands in northeastern Nigeria as part of their campaign to bring Sharia law to Africa’s largest economy in the past seven years. Read the full story here.