The Minister of Industry, Trade and Investment, Dr. Doris Uzoka Anite has stated that the economic damage resulting from the ongoing EndBadGovernance protest is estimated to be around N500 billion.
This was disclosed by the Minister via her official X handle, lamenting the protest-related deaths as well as other damages.
In her statement, she noted that over a thousand persons had died during the demonstration, and that goods valued at over N52 billion had been destroyed.
She stressed that the lootings from the protest are a setback to businesses and entrepreneurs across the country.
She said, “The loss of lives during the protests is saddening. My thoughts are with the families affected. The looting, resulting in billions lost, is a severe setback for our economy and entrepreneurs. Let’s honour those we’ve lost by striving for more peaceful and constructive dialogue.”
On August 1st, the #EndBadGovernance protest got underway, with demonstrators urging politicians to address the nation’s spiraling cost of living.
The country’s inflation rate had risen to 34.19% by June 2024, the highest in 28 years, and 32 million people were expected to be severely food insecure.
