The Nigerian economy reportedly suffered a loss exceeding N500 billion in a single day due to the nationwide #EndBadGovernance protest, despite strong warnings and appeals from the Federal Government, National Assembly, state governments, security agencies, and various private sector groups to postpone the demonstrations.
According to New Telegraph, many businesses were forced to close their doors due to fears of retaliation from protesters. The disruption significantly impacted operations across various sectors, including MSMEs, manufacturing firms, ICT centers, petrol stations, and other critical components of the economy.
Economic experts estimate that the protest’s first day alone caused substantial losses across key sectors, as businesses remained shut to avoid looting, vandalism, and attacks on their premises.
New Telegraph also reported that many major businesses had to hire additional security to safeguard their operations during the protests. Targets included warehouses, phone accessory shops, pharmaceutical companies, banks, automobile dealerships, electronics stores, and other establishments, with some individuals posing as protesters to carry out theft and vandalism in major cities.
