EndSARS protests: Nigerian economy has lost over N700 billion in 12 days, says LCCI

EndSARS protests: Nigerian economy has lost over N700 billion in 12 days, says LCCI

- Nigeria has lost over N700 billion in the last 12 days following the protests against police brutality

- This was made known in a statement by the Lagos Chamber of Commerce and Industry (LCCI)

- The chamber explained that the protests roadblocks have hindered the movement of people and goods

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Following the ongoing #EndSARS protests, the Lagos Chamber of Commerce and Industry (LCCI) said that the Nigerian economy has lost over N700 billion in the last 12 days.

In a report by The Guardian, LCCI noted that this is as a result of numerous roadblocks that have hindered the movement of people and goods across the country.

Toki Mabogunje, the chamber’s president who made this known in a statement on Monday, October 19, stated the disruptions, blockades, and barricades around major cities and interstate highways have a far-reaching effect on the economy.

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EndSARS protests: Nigerian economy has lost over N700 billion in 12 days, says LCCI
Lagos Chamber of Commerce and Industry says the Nigerian economy has lost over N700 billion in 12 days. Photo credit: Punch
Source: UGC

While reviewing the economic implications of the protest, Mabogunje warned that Nigeria was starting to witness a number of unintended outcomes of the EndSARS protest.

Speaking further, the chamber president explained that the protracted nature of the EndSars protests has crippled economic activities in most parts of the country.

The chamber noted that though the protests form vital ingredients for good governance, it, however, called for the reduction in the number of blockades.

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Meanwhile, Legit.ng reported that the leadership of the National Assembly has appealed to the Nigerian youths to suspend the ongoing nationwide #EndSARS protests.

The president of the Senate, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila, made the appeal on Sunday, October 18, after meeting with President Muhammadu Buhari.

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According to them, the protests should stop since the Nigerian government has accepted the demands listed by the youth protesters.

In a related development, President Muhammadu Buhari on Monday, October 19, said that the Nigerian youths have the right to peacefully protest while making demands of their leaders.

Buhari made the disclosure during a meeting with the minister of youths and sports development, Sunday Dare at Aso Rock Presidential Villa.

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Source: Legit

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