The Centre for the Promotion of Private Enterprise (CPPE) has estimated that the protests could lead to a daily loss of N400 billion, with potentially dire effects on the country and its citizens.
Dr. Muda Yusuf, Director/CEO of CPPE, highlighted these concerns in a statement on Sunday, emphasizing the potential severity of such losses.
“The protests could inflict an estimated daily loss of N400 billion, if not properly managed. The consequences of such a huge loss for the country and its citizens would be very severe,” he said.
Organized by various groups, the protests are intended to highlight pressing economic issues such as high inflation, rising production costs, unemployment, and food insecurity.
However, experts fear the protests could disrupt critical sectors of the economy, including trade, manufacturing, and financial services.
“There is a high risk of shutdowns and disruptions in major sectors of the economy. This is in addition to the risks to the lives and properties of innocent citizens and corporate bodies,” Yusuf warned.
The CPPE has called on protest organizers to collaborate with the police to ensure the protests remain peaceful and orderly. They also recommend keeping the protests brief, ideally one day, to minimize opportunities for unrest and criminal activity.
“Prolonged protests create opportunities for hoodlums, miscreants, and other criminal elements in society to build momentum to unleash mayhem and destruction on the country,” he said.
Additionally, the CPPE has urged the government to advance its economic stabilization plan to alleviate production costs and curb inflation.
