The Nigerian Economy may have lost a whopping sum of about N700bn for the last 12 days the #EndSARS protests started. This was according to the President of the Lagos Chamber of Commerce and Industry LCCI, Mrs. Toki Mabogunje.
Mabogunje revealed this in a statement on Monday while expressing concern over the negative impact of the #EndSARS demonstrations on business activities across the country.
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.
However, she agreed 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 Punch report, the LCCI president, Mrs. Toki Mabogunje noted that the protests have achieved some significant outcomes and have reawakened the need to reform the shortcomings in Nigeria’s political governance.
She urged the protesters to dialogue with the government because according to her, it will 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,” she added.
She advised President Buhari to urgently grant audience to the leadership of the #EndSARS to deliberate on the way forward and to agree on an action plan for the delivery of agreed outcomes.
Mobogunje urged the government to commit to rapid improvement in governance quality and accountability in the police and public sector.
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