The Lagos Chamber of Commerce and Industry (LCCI), says the Nigerian economy could have lost an estimated N700 billion to the #EndSARS protests in the last 12 days. The protest originated about two weeks ago on the issue of police brutality and extrajudicial killings. It has grown into a social crusade against bad governance.
A statement from the President of LCCI, Toki Mabogunje, states on 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’.
It further explained that “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 (₦700 billion) loss in the past twelve days,” Mabogunje adds.
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.
According to the LCCI president, the protests have achieved some significant outcomes and has reawakened the need to reform the shortcomings in Nigeria’s political governance.
She recommended that the protesters dialogue with the government.
This, according to Mobogunje, is necessary to reduce the massive disruptions, blockades and barricades around our major cities and interstate highways.
Mobogunje urged the government to commit to rapid improvement in governance quality and accountability in the police and public sector. And 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.