The Lagos Chamber of Commerce and Industry has disclosed that the Nigerian economy lost about N700billion to the #EndSARS protests in the last 12 days.
President of the chamber, Mrs Toki Mabogunje, who made the remark while counting the negative toll of the #EndSARS demonstrations in the country, in a statement, restated the value of citizens’ engagement and demand for accountability which the EndSARS protest essentially represents. Mabogunje noted that over the past 12 days, economic activities have been crippled in most parts of the country particularly in the urban cities.
Though she admitted that the protest has demonstrated in unmistakable terms the power of the people and the potency of the energy of our youths to bring about change, she lamented that the Nigerian economy has suffered an estimated N700billion loss in just 12 days of the mass action. “The Nigerian economy has suffered an estimated N700bn loss in the past twelve days. 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.”
She said the protests have crippled economic activities in the country due to disruptions, blockades and barricades around major cities and interstate highways.
Lamenting that the economy was still struggling to recover from the devastating effects of the COVID- 19 pandemic, 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.
“The protests have achieved some significant outcomes and has reawakened the need to reform the shortcomings in Nigeria’s political governance.”
The LCCI president recommended that the protesters should move to the next stage of civic engagement and dialogue with the government to reduce the massive disruption, blockades and barricades along major cities and highways.