Over N700 billion is reported to have been lost by the Country to the #EndSARS protests in the las 12 days. According to the President LCCI, Mrs Toki Mabogunje, the value of citizens’ engagement and the demand for accountability which the protest represents is a welcome development however, the negative impact on the economy is one that calls for the protesters to move on to the next stage of civic engagement which is dialogue.
She said this during a review of the economic implications of the protest in a statement made available to the media. According to her, the LCCI is concerned about the negative impact that the protracted nature of the EndSars protests has had on business activities across the country.
“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.”
According to her, the protest has been impactful and profound, adding that it has achieved some significant outcomes by reawakening the need to reform the shortcomings in the nation’s political governance.
To this end, Mabogunje said LCCI therefore proposes: “That President Muhammadu Buhari should urgently grant 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 outcomes.
“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,” she added.
“That 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. “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.”