Nigerian economy suffering increased losses due to protests
The losses sustained by the Nigerian economy from the escalating #EndSARS protests has been estimated at about N700 billion.
This is according to the President, Lagos Chamber of Commerce of Industry, LCCI, Mrs Toki Mabogunje, who stated this in a statement on Monday.
She expressed concern over the negative impact of the #EndSARS demonstrations on the Nigerian economy.
The statement is titled, ‘LCCI press release on the economic implications of EndSARS protest’.
“The LCCI appreciates the value of citizens’ engagement and the demand for accountability which the EndSARS protest essentially represents.
“These are in consonance with democratic norms. They also form vital ingredients for good governance.
“Over the past twelve days, economic activities have been crippled in most parts of the country and has been particularly profound in the urban areas.
“The Nigerian economy has suffered an estimated Seven Hundred Billion Naira (₦700bn) loss in the past twelve days,” Mabogunje said.
She noted that the #EndSARS demonstrations had been impactful and profound, adding that it had the power of the people and the potency of the energy of the youth to bring about change.
According to the LCCI president, the protests have achieved some significant outcomes and has reawakened the need to reform the shortcomings in Nigeria’s political governance.