The past few days in Nigeria have been nothing short of unbelievable for many Nigerians, the EndSARS peaceful protest, and its effect on businesses. At first, it all started like a joke and a norm, when the people raised their voices and so “NO!” towards police brutality. The first day, led to another and then another while spreading like wildfire during harmattan. It lingered into days, and then weeks, with movement and businesses grounded to a halt in most commercial cities in Nigeria. The protest hit the international scene, and Nigeria took the center-stage, as the international media beamed their light on us.
One would be hard-pressed to describe the events without seeming to take sides with either part of the standoff as emotions, euphoria and sometimes, unfounded principles have seemed to become the order of the day. The political class, business leader, rich, and poor were all stakeholders in this movement, and the ripple effect took on the economy, as businesses grounded to a halt.
However, the domino effect of the EndSARS peaceful protest has had a devastating impact on the fragile Nigerian economy. With an oil economy trying to pick up from the ruins of the cover-19 pandemic, a recession is unavoidable. Clearly, an economy this fragile can’t survive the economic impact of the #EndSARS peaceful protests, as most businesses were on lock and key, while movement became a fairy tale.
Effects of EndSARS Protest in Nigeria Are:
- loss of jobs
- increase in violence
- school shutdown
- low income expenditure
- increase in inflation rate
- high rate of extra-judicial killings
- destruction of lagos state governments property