The Lagos Chamber of Commerce and Industry says the Nigerian economy may have lost about N700bn to the #EndSARS protests in the last 12 days.
The President, LCCI, Mrs Toki Mabogunje, in a statement on Monday, expressed concern over 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’.
“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 (₦700bn) loss in the past twelve days,” Mabogunje said.
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.
“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.
Killings: Isoko group asks Buhari, Okowa to prevent reprisals
She advised the President, Major General Muhammadu Buhari (retd.) to 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.
Mobogunje urged the government to commit to rapid improvement in governance quality and accountability in the police and public sector.
[BREAKING] #EndSARS: Oyo protesters block Lagos-Ibadan Expressway
Published October 20, 2020
Scores of youths on Tuesday morning poured out in some areas in Ibadan, the Oyo State capital and blocked the Ojoo end of the Lagos-Ibadan Expressway in continuation of the #EndSARS protests rocking the country.
The expressway was barricaded where those travelling to Oyo town and the northern part of the country would pass to link the Ibadan-Ilorin road.
As early as 8am, our correspondent gathered that the protesters were out barricading roads at various junctions.
The barricade forced some vehicles to turn back and find alternative routes but not quite long, the protesters started blocking all the exit routes.
This caused gridlock and some motorists had to park their vehicles by the roadside out of frustration.
The youths also mounted roadblock in front of the police station in Ojoo in the Akinyele Local Government Area of Oyo State.
The police had to lock their gate and their patrol vehicles which used to be parked by the roadside were all removed and parked on the premises.
Some armed policemen were, however, were at alert inside the police station but there was no incident as of the time of filing this report.
Also, various junctions were blocked by the protesters on the Ojoo-UI road as the youth continued to chant, ‘EndSARS! No SWAT!’
In similar vein
Security beefed up in Abuja as Apo victims count losses
Security has been beefed up in Apo Village, settlement in Abuja after the Monday mayhem in which vehicles were burnt and houses destroyed.
As of Tuesday morning, armed policemen have been stationed in the affected spots to prevent reprisal.
Residents whose cars were burnt or houses vandalised are counting their losses and palpable tension still envelopes the area.
The details news had earlier reported that soldiers and policemen have been deployed in some communities near the Nnamdi Azikiwe International Airport, Abuja apparently to forestall further breakdown of law and order as the protests against the scrapped Special Anti-Robbery Squad of the Nigeria Police Force continues.
The #EndSARS protests rocking the country have continued for almost two weeks with youths calling for a lasting reform of the Nigeria Police Force.
Major highways have been blocked by the youths, thereby, causing gridlock and affecting economic activities.
Suspected hoodlums had also hijacked the #EndSARS campaign in some cities, wreaked havoc on citizens and vandalised public assets in Lagos, Benin, Abuja, amongst other major cities.
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