Nigeria Loses N700bn In 12 Days Of #EndSARS Protest

Published On: October 21, 2020, 8:43 am (1 month ago)
Author: Olusanya Akinrinola

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

President, LCCI, Mrs Toki Mabogunje, said this while reviewing the economic implications of the protest in a statement on Monday.

She noted that LCCI appreciates the value of citizens’ engagement and the demand for accountability which the protest represents, but lamented the negative impact on the economy.

According to Mabogunje;

Quote
“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.

“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.”

Mabogunje asserted that 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.

She however said that to protect the livelihoods of Nigerians, including the business community, the protesters need to progress to the next stage of civic engagement, which is dialogue.

“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.

To this end, Mabogunje said LCCI therefore proposes:

Quote
“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.

“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.”



Posted: (1 month ago) on 21-10-2020 08:43 AM | Hero
We’re talking about mayhems, and you fools are talking about useless 700b. God punish all of una there. Idiots.
Posted: (1 month ago) on 21-10-2020 09:41 AM | Gistmaniac
Reply
so nigeria can make 700 billion in 12 days... wetin una don do with d one we don make b4 d protest
Posted: (1 month ago) on 21-10-2020 10:24 AM | Gistmaniac
Reply
Quote from: Henrybobo on 21-10-2020 10:24 AM
so nigeria can make 700 billion in 12 days... wetin una don do with d one we don make b4 d protest
Bro! Hahahahaha! I 4 ask dem dem same questions caz we have two damn 12days in a month and equally have (31) 12 days in a given year . So, if nija is making approximately 702 billion in a 12 days then by 31 , I’m sure if we can eradicate corruption with this ongoing protest then inland revenue  generated in a fiscal year should be sufficient enough to give each Nigerian an average gross domestic product of 5% growth annually per capital . If our money is invested in human resource in this nation ,Nigeria would boast or competitively compete in the first best ten in areas of medical doctors , engineers ,RND and in all areas of academic excellence.
Posted: (1 month ago) on 21-10-2020 01:41 PM | Upcoming
Reply
LAGOS BURNING!!!!!!!
Posted: (1 month ago) on 21-10-2020 04:23 PM | Addicted Hero
Reply

fire TRENDING GISTS fire

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