Deadly Attack, Economic Disaster
On June 13, militants launched a savage night raid on the Yelewata settlement in Benue State, killing up to 200 displaced Christians and torching homes, food stores, and markets. But this horror also triggered waves of economic destruction far beyond the burned ground.
Benue – Nigeria’s “Food Basket” Under Fire
Benue is known as the “Food Basket of the Nation”, producing rice, yams, beans, cassava, soybeans, oranges, and palm produce, reliant on agriculture for over 70% of livelihoods . Before the massacre, the Benfruit Plant was processing millions of tons of produce annually.
But Yelewata’s market fire destroyed a full year’s harvest, demolishing both immediate supplies and future planting expectations.
Farmers Losing Their Future
Research shows that every 1% increase in insecurity reduces crop yield by 0.21% and livestock output by 0.31%. With over 150–200 people killed, many of whom were farmers or traders, Benue’s rural economy took a massive hit.
Losses in Benue from farmer-herder conflict are estimated at 10% of the state GDP ($5.8 billion), roughly $500 million annually That’s a blow that ripples across Nigeria’s food chain.
National Food Security Hits the Roof
With Benue’s output slashed, Nigeria faces a serious food shock:
- Rice, yams, and beans main staples now scarcer
- Inflation (currently around 23%) likely to spike further
- Already vulnerable households, especially in urban centers, struggle to afford basic nutrition
Evidence from Borno and Katsina shows rural violence directly raises food prices nationwide
Livelihood Destruction & Displacement
The assault on Yelewata forced thousands to flee. With people still working farms, but facing burnout and relocation, rural incomes collapse. Women and children suffer immediate hunger, and children may miss months of school, hurting the long-term workforce.
Traders lose inventory overnight. The food supply chain breaks down no produce on wheels, no market to sell. And as agriculture shrinks, so do local SMEs tied to it.
Investment Evaporates
Violence repels investors. Projects like agro-processing plants, mills, and irrigation schemes all lose viability in conflict zones. Benue recorded a -3.4% GDP growth rate, underscoring how fragility chokes regional progress.
Unless the state becomes secure again, economic diversification stalls, rural unemployment rises, and youth migration to cities intensifies.
Financial Juggernut’s Take
This massacre wasn’t just a horror it was an economic bombshell:
“Burning Yelewata’s market didn’t just kill people it blew up a year’s worth of food, income, and investment.”
Without urgent interventions security, compensation, rebuilding Nigeria isn’t just losing families; it’s losing its economic backbone.
What Must Be Done Now
- Deploy security forces to protect farms and traders
- Compensate displaced farmers, supply seeds and tools
- Rebuild markets and restore logistics
- Incentivize agribusiness via grants and tax breaks
- Support rural schools and health centers to prevent human capital loss
