The Director and Chief Executive Officer (CEO) of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has cautioned that the planned nationwide protests could inflict an estimated daily loss of ₦400bn, with severe consequences for the country and its citizens.
“The protests could inflict an estimated daily loss of ₦400 billion, if not properly managed. The consequences of such a huge loss for the country and the citizens would be very severe,” he said, in a statement released on Sunday.
The protests, some have said, is aimed at drawing attention to the country’s economic woes, including high inflation, production costs, unemployment and hunger.
However, economic experts fear that the protests could lead to shutdowns and disruptions in major sectors of the economy, including trade and commerce, manufacturing, and financial services.
“There is a high risk of shutdowns and disruptions in major sectors of the economy. This is in addition to risks to lives and properties of innocent citizens and corporate bodies,” Yusuf warned.
The CPPE has urged the protest organizers to cooperate with the police to ensure peaceful and orderly protests and advised that the duration of the protests should be short, possibly one day.
“Prolonged protests create opportunities for hoodlums, miscreants, and other criminal elements in the society to build momentum to unleash mayhem and destruction on the country,” he said.
