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.
