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Nigeria’s Economy Suffers ₦500 Billion Loss in a Single Day Due to #EndBadGovernance Protest – Report

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Nigeria’s economy has reportedly suffered a significant blow, with an estimated loss of over ₦500 billion in just one day due to the nationwide #EndBadGovernance protests. Despite warnings and appeals from the Federal Government, National Assembly (NASS), state governments, security agencies, and various Organised Private Sector (OPS) groups, the protests severely disrupted business activities across major cities.

 

According to an investigation by *New Telegraph*, many businesses, particularly micro, small, and medium-sized enterprises (MSMEs), manufacturing companies, ICT centers, petrol stations, and other key economic players, remained closed out of fear of potential attacks. The widespread closures and the disruption of economic activities have led experts to estimate the massive financial loss.

 

The report highlights that many businesses, fearing looting, lynching, and the destruction of property, employed heavy security measures to protect their operations. Among the sectors most affected were warehouses, phone accessories and sales, pharmaceutical companies, banks, automobile shops, and electronics stores. These businesses were reportedly targeted by hoodlums who infiltrated the protests across various cities in the country.

 

The economic impact of the protests is expected to have lasting effects, as businesses assess the damage and consider the potential for future disruptions.

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Tinubu’s Policies Will Deliver, Be Patient – Wike

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By Ifeoluwa Odunayo

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged Nigerians to remain patient as President Bola Tinubu’s policies take effect, assuring that they are designed to bring long-term progress.

Speaking in Ibadan during a condolence visit to Governor Seyi Makinde, Wike emphasized that Nigeria was in a dire state before Tinubu took office, and the ongoing reforms are necessary for national recovery.

“This country was in a critical condition a few years ago. If we truly want a remedy, we must allow time for the policies of Mr. President to take shape,” Wike said.

He acknowledged the short-term challenges but reassured citizens that the policies will yield the desired results.

“There will be effects, and people will feel them, but in the end, we will achieve the progress we seek. No one should panic because Mr. President means well for the country,” he added.

Wike’s remarks come amid growing public concerns over economic hardships, with the government facing pressure to deliver on promises of economic stability and improved living conditions.

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Abuja Reports

Tinubu Reshuffles Leadership at Federal Universities, Renames UNIABUJA

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By Patrick Idowu

President Bola Ahmed Tinubu has announced leadership changes at several federal universities, including renaming the University of Abuja to Yakubu Gowon University.

The president dissolved the governing council of the newly named university and removed Vice-Chancellor Prof. Aisha Sani Maikudi, appointing Prof. Lar Patricia Manko as acting VC for six months, though she is ineligible for the permanent position.

Senator Lanre Tejuoso takes over as Pro-Chancellor.

At the University of Nigeria, Nsukka (UNN), Tinubu sacked Acting VC Prof. Polycarp Chigbu, replacing him with Prof. Oguejiofu T. Ujam. Gen. Ike Nwachukwu was moved from UNN to the University of Uyo, while Engineer Olubunmi Kayode Ojo is now UNN’s Pro-Chancellor.

Other key changes include Senator Joy Emordi moving from Alvan Ikoku University of Education to the University of Agriculture, Makurdi, while Senator Sani Stores takes her previous role.

Barrister Olugbenga Kukoyi is now Pro-Chancellor of Nnamdi Azikiwe University.

President Tinubu said the overhaul reflects his commitment to revitalizing higher education and ensuring stronger governance and accountability in Nigerian universities.

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Abuja Reports

Residents Demand Relocation of Karu Dump Site

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By Patrick Idowu & Gbenga Adeniyi

Residents of Jikwoyi and Karu communities on the outskirts of Abuja are calling for the urgent relocation of the Karu dump site, citing severe environmental and health risks.

Appealing to the Abuja Environmental Protection Board (AEPB), the residents warned of a potential epidemic if the site remains in its current location.

They highlighted the growing waste accumulation, which frequently obstructs the Karu-Orozo road, causing persistent traffic congestion.

Gabriel Idoko, a resident, expressed frustration over the situation.

“It’s shameful that such a hazardous site exists in Abuja. This is an eyesore that poses serious health risks,” he lamented.

A local community chief, who spoke anonymously, condemned the site’s proximity to a cemetery.

“How can refuse be dumped on graves? It’s unacceptable. The FCT administration must act swiftly,” he stated.

Residents are urging authorities to address the issue urgently by relocating the dump site to a more suitable location.

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