The Lagos Chamber of Commerce and Industry has said that the Nigerian economy may have lost about N700bn to the #EndSARS protests that have lasted 12 days.
Mrs. Toki Mabogunje, the President, LCCI, in a statement on Monday, spke on the negative impact the #EndSARS campaign has had 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.
Mobogunje noted that the #EndSARS demonstrations had been impactful and profound, commending the potency of the energy of the youth to bring about change.
She recommended that the protesters dialogue with the government.
This, according to her, is necessary to reduce the massive disruptions, blockades, and barricades around 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.
She advised President Muhammadu Buhari to urgently grant audience to the leadership of the #EndSARS campaign to deliberate on future steps to be taken as well as 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.