The economic impact of protest in Nigeria are as follows: It leads to financial loss in the country because
major sectors driving the Nigerian economy were shut down either completely or substantially during this protest, these include financial services, trade and commerce, transportation, manufacturing, entertainment, hospitality and so many others.
The economies of many states were completely grounded leading to huge economic losses.
Most investors suspended their investments.
The banking sector is also struggling under pressure of ongoing protest and rising rates has impacted the economy significantly.
Although the Nigeria economy had already been affected before the protest in terms of foreign exchange, from the subsidy removal, and from the administrative allocation of foreign exchange. Most business crashed as cos of inflation.
The solutions we need in Nigeria present situation is the president should listen to Nigerians and provide solution to enable the economy open up and return to the path of rapid growth. He should fix the economy that is to say stop the capitalist economic system and implement more socialist economic policies.
The president should relieve the hardship people are facing by bringing the price of fuel down and also inflation in the price of things generally. Tackle insecurity for farmers to go back to farm to improve production of foods. Improve the value of our naira also.
Written by Chioma Adinkwu.
