Staff Correspondent, Lagos, Nigeria (CWBN)_ Following 12 days of #EndSARS protests in Nigeria, the Nigerian economy suffered heavy losses amounting to N700 billion said the Lagos Chamber of Commerce and Industry (LCCI) in a statement issued to the media.
The protests began two weeks ago and was against the Sars police unite, which had been accused of illegal detention, shooting and police brutality and the protestors demanded the abolition of the unite. Although President Buhari dissolved the unit on 11 October, the protestors continued to protest, demanding more and more qualitative changes in the security forces, police and substantial reforms in political governance.
President, LCCI, Mrs Toki Mabogunje, while appreciating the spirit of citizens’ engagement and the demand for accountability, lamented the negative impact on the economy. Mabogunje said, “These are in consonance with democratic norms. They also form vital ingredients for good governance.” LCCI is, however, concerned about the negative impact that the protracted nature of the EndSars protests has on business activities across the country.
Economic activities crippled
“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 (N700 billion) loss in the past twelve days.”
She stressed the fact that the protest has been impactful and achieved some important outcomes by stressing the need to reform the shortcomings of the governance. However, she noted, that the protestors should protect the livelihoods of Nigerians, including the business community and that they take the protest to the next stage of civic engagement and dialogue.
She said, “This is necessary to reduce the massive disruptions, blockades and barricades around our major cities and interstate highways. These actions have been at great cost to the economy and the welfare of Nigerian citizens. It should be noted that our economy is still reeling from the shocks of the Covid 19 Pandemic and struggling to recover from its devastating effects,”
Mabogunje further said that the LCCI proposes that President Muhammadu Buhari should urgently grant an audience to the leadership of the protest, “That President Muhammadu Buhari should urgently grant an audience to the leadership of the protest to deliberate on the way forward and to agree on an action plan for the delivery of agreed outcome and the government should commit to rapid improvement in governance quality and accountability by effecting necessary institutional, policy and regulatory reforms not only for the police but the entire public sector ecosystem.”
She concluded, “The leadership of the protest should occupy the seats provided to participate in the reforms to be implemented by government in response to their demands.”
