Lagos Saved N118.32 bn but Lost N19.72 bn to Fire

Lagos State government announced that, after the 2022 fire that devastated parts of the city’s informal settlements, it recovered N118.32 billion in assets and funds but incurred a loss of N19.72 billion directly attributable to the fire’s damage and related costs. The net effect was a gain of about N98.6 billion, reflecting the state’s ability to recoup most of the financial impact while still bearing a significant loss from the disaster. Views Nigeria