In the last two days the #ENDBADGOVERNANCEINNIGERIA protests have engulfed many states in Nigeria, business activities have nose dived and the nation financial bracket has lost an average of Seventy Billion Naira (N70,000,000,000)
Remember that Nigeria, since Thursday, has been witnessing protests in many states over hardship its citizens have been facing since the removal of oil subsidy in June, 2023
Some economic analysts have opined that the already fragile economy may get worsen should the federal government fail to find a lasting solution to the current protests in the country.
And of those economist, Paul Alaje also aired that on each day of the protests, Nigeria lost an average of Thirty Five Billion Naira (N35,000,000,000). He said that the nation economy could suffer more should the protests linger on.
Alaje, who made this expository on Politics Today on Channels TV, Friday said that though “it’s not that the protests happen everywhere in the country, but fear of the protests made many business to shut down”.
He explained that “what we estimated as loss on Thursday alone was an average of Thirty Five Billion Naira. The stock returns has dropped to 0.4%, and all share index exchange lost 0.42%”.
He said further that effects of the losses were going to be felt in all sectors especially in the aviation, telecommunication, transportation and chain stores.
In his words “the protests that have impacted on the informal sector may eventually sink the economy if the parties involved fail to reach a compromise”.
Alaje, however, implored the federal government to find a lasting solution to the crisis as he posited that: “protesters and the federal government should come together to have a negotiation on how to resolve the crisis”. As failure to do so fast, “may eventually cribble the economy”, he added.
