Northeast economy faces fresh shock as Maiduguri explosions kill 25

Maiduguri, the capital of Borno State, is reeling from a series of coordinated suicide attacks that have left at least 25 people dead and 146 wounded. The explosions, attributed to Boko Haram/ISWAP terrorists, struck three critical locations simultaneously: the Monday Market roundabout, the Post Office area, and the entrance to the University of Maiduguri Teaching Hospital (UMTH).

The timing of the attacks, coinciding with the final days of Ramadan, has prompted a national outcry and a shift in the country’s security strategy.

Beyond the immediate loss of life, experts warn of a looming “economic disaster.” The Monday Market is not merely a local trading post; it is the largest daily regional market in the North East, serving as a vital economic artery for Nigeria and neighbouring countries, including Chad, Cameroon, Niger, the Central African Republic, and Sudan.

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Small business owners, who form the backbone of Borno’s economy, report that activities have been paralysed by fear. Many traders are still searching for their loved ones affected by the deadly explosions.

Speaking on the development, Abubakar Mohammed, researcher at the Department of Military Studies, Abuja Leadership Centre of the University of Abuja, explained that the private sector in Borno state and the entire North East region of the country is weak, warning that the federal government shouldn’t allow the terrorists to succeed continuously, unleashing havoc on the civilians unchecked.

He said, “Now, I want to say security is the bedrock of any meaningful society. Without security, there is no way we can have peace and development. In Borno, specifically, most people work with the government, either the state or the local one. The private sector is not really active. So the majority of the people engage in small businesses and trade. As you can see, the Monday market is the major economic hub of the state and neighbouring countries.

“Now there was a blast not just in the markets, but around it. I understand that even the UMTH and the Post Office are a major setback. You know how people rely on this market for Salah celebration supplies. Unfortunately, with yesterday’s attacks, an economic disaster has happened because it has led to the loss of not just lives but also economic loss, and hundreds of people have lost their livelihoods. It is sad, and this must stop,” he lamented.

Local traders, such as Bunu Ba Modu, expressed concern that partners in Lagos and Kano may stop sending goods if safety cannot be guaranteed. “If our business partners cannot guarantee security, they won’t deal with us,” Modu lamented.

Bunu Ba Modu, a business owner at Monday market, expressed concern over recent spikes of attacks, noting that it would further worsen insecurity if not arrested now.

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Military warns multiple bombers still at large

In the wake of the blasts, Operation Hadin Kai, the military task force in the region, issued a chilling alert. Security intelligence suggests that multiple suicide bombers are still active in Maiduguri and its environs.

Sanni Uba, the media information officer, warned that terrorists historically intensify attacks during the 27th and 29th days of Ramadan, targeting densely populated areas to maximise casualties and spread propaganda.

Accordingly to him, to forestall any repeat occurrences, members of the public across the North East region are strongly advised to remain security conscious, vigilant, and observant of their surroundings, particularly in crowded locations such as mosques, prayer grounds, markets, shopping areas, bus terminals, hospitals, and major road junctions.

“Worshippers attending night prayers (Taraweeh and Tahajjud) and other religious gatherings are encouraged to exercise caution and cooperate with security personnel conducting screening and access control procedures. The public is specifically advised to observe the following precautionary measures:

“Avoid overcrowded areas whenever possible and maintain situational awareness when attending places of worship, markets, or public events.

“Cooperate fully with security agencies during stop-and-search operations, security screening, and other safety procedures.

“Parents and guardians are urged to be mindful of the movement of their children, especially during evening hours and night prayers.

“Security agencies across the region have already heightened operational readiness and increased surveillance, patrols, and protective measures around critical locations and population centres.

“These measures are aimed at preventing any further terrorist attacks and ensuring that citizens can observe the remaining days of Ramadan and the forthcoming Eid celebrations in peace and safety.

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Tinubu directs security chiefs to relocate to Borno

President Bola Tinubu has responded with a clear “no surrender” stance, describing the attacks as the “final desperate and frantic attempts” of a pressured enemy. In a significant move to regain control, the President has ordered all security chiefs to relocate to Maiduguri immediately to personally oversee operations.

“Nigeria will not succumb to fear,” President Tinubu stated. “There is no place in Nigeria where terrorists will find safety. We will locate them, confront them, and completely defeat them.”

The President also confirmed that additional equipment and operational support have been approved for the troops to enhance their capabilities in the North East theatre.

The Northern States Governors’ Forum (NGF) and the Network of Civil Society Organisations in Borno State (NECSOB) have joined in condemning the “barbaric” acts. Inuwa Yahaya, NGF chairman and Gombe State Governor, reaffirmed that the collective resolve to secure the North East remains unshaken, calling the blasts a “direct assault on our collective humanity.”

As the state enters the final days of Ramadan and prepares for Eid celebrations, the atmosphere remains tense, with security forces on high alert to prevent further incursions into the state’s economic and social centres.