Nigeria’s economy is facing a severe decline as the ongoing #endbadgovernance protests and curfews imposed by several states take a toll on economic activities.
The protests, which have been hijacked by hoodlums, have resulted in property destruction, looting, and a significant loss of revenue.
The Association of Small Business Owners of Nigeria estimates that N600 billion has been lost in the last five days, while the Centre for the Promotion of Private Enterprise warns that the country risks losing N400 billion daily.
The curfews imposed by states have further worsened the economic woes, with many businesses forced to close or operate at reduced capacity.
Investors are also losing confidence, with a massive sell-off at the dollar-dominated bond amid the protests and uncertainties.
The Nigerian Exchange Limited has also seen a significant loss, with investors losing N92 billion at the end of Monday’s trading session.
Experts are calling for dialogue between the government and protesters to address the demands and find a solution to the crisis.
They warn that a prolonged demonstration will lead to more degeneration of the country’s economy, which is already struggling.
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