Insecurity: World Bank gives prospects on economic development of Northeast
The World Bank has said the activities of Boko Haram insurgents have caused a major decline in the economic development of North-eastern Nigeria.
It disclosed that Adamawa, Borno and Yobe states saw economic activities decline from 10 to 14 per cent between 2009 and 2013, and later about 50 per cent.
The report noted that crop yields and economic activities have been greatly affected by the conflict.
The bank suggested improved trade, infrastructure, governance and natural resource management to boost development.
It also emphasized that peace and security are essential for economic growth in the region.
