Dr Muda Yusuf, the director Centre for the Promotion of Private Enterprise (CPPE), said Nigeria could lose N400 billion to the proposed nationwide protests.
He noted that the protest portends grave danger for an economy which is already in a very fragile state.
Yusuf said the consequences of such a huge loss for the country and the citizens would be very severe. According to him, “there is a high risk of shut downs and disruptions in major sectors of the economy. “These include trade and commerce, manufacturing, entertainment, transportation, logistics, financial services, hospitality industry, agriculture, aviation, ICT, and construction sectors.
“This is in addition to risks to lives and properties of innocent citizens and corporate bodies. Safety of government assets are also at risk.”
While commending the Inspector General of the police for acknowledging the rights of the citizens to protest and offering to protect the genuine protesters, the CPPE boss pleaded with the organizers of the protests to cooperate with the police to make the planned protests peaceful and orderly.
“It is in the overall interest of all for this to happen. Peacefulness of a protest does not detract from the potency of its messaging.
“The protest organizers should not offer a platform for elements in the country who have criminal intents and whose agenda is to inflict pains on innocent citizens and corporate organisations and destruction of public assets. We cannot fix a problem by promoting such negative tendencies.
“Additionally, the CPPE would like to advise that the duration of the protests should be short, possibly one day.
Speaking further, he noted that “Experience has shown that the chances of protests degenerating into chaos and anarchy increases with the duration of the protests. 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.
“Over 90% of employed Nigerians are in the informal sector. Employees in this space are dependent on daily income and any disruption to their economic activities beyond 24 hours could snowball into a major social unrest. This underlines the country’s vulnerability to prolonged protests.
“Meanwhile, we urge the administration to expeditiously implement its economic stabilization plan to ease production costs and ultimately reduce inflationary pressures. Trade costs are still prohibitive and needs to be drastically reduced across board in a manner that would not undermine domestic production.
As the nationwide strike kick-off today, the Organised Private Sector (OPS) has said any disruption to business operations could have significant repercussions on the economy and the livelihoods of the people.
Meanwhile,Francis Meshioye, the president of the Manufacturers Association of Nigeria (MAN), an apolitical umbrella body representing major business membership organisations in Nigeria, said the OPS has carefully considered the planned protest by certain citizens in response to current challenges affecting public welfare, advising that the private sector prioritizes the importance of dialogue and engagement between the government and concerned citizens.
“We firmly believe that open and constructive dialogue is the most effective tool for addressing the nation’s challenges and encouraging the desired changes.”
The OPS urged all parties to embrace this path of dialogue to achieve meaningful and lasting solutions for the benefit of the country.
Meshioye said however, should the decision to protest be made, “we earnestly appeal for it to be conducted in a peaceful and orderly atmosphere.
“A peaceful protest will ensure that citizens can express their concerns without infringing upon the rights of others or disrupting legal and lawful activities.
It will also allow the government to respond appropriately and facilitate a productive engagement that could lead to future collaboration on the outcomes of such engagements.”
The MAN boss said as representatives of the business community, the OPS is acutely aware of the potential economic impact of mass protests.
“Our members are crucial drivers of economic growth and job creation.
“We have continuously engaged with the government at various levels to find lasting solutions to the economic challenges facing our nation.
“It is crucial to remember that many businesses are still recovering from the substantial losses incurred during the hijacked End SARS protests a few years ago.”
He called on security agencies to ensure the protection of lives and properties during this period, adding that the OPSN remains steadfast in its commitment to collaborate with all relevant stakeholders to promote a peaceful and prosperous Nigeria for all its citizens.
However, since Nigeria’s return to civilian rule in 1999, the nation has witnessed a series of protests reflecting the populace’s persistent demand for better governance, social justice, and economic reforms.
These protests, ranging from anti-fuel hike demonstrations to the globally recognised #EndSARS movement, have played a crucial role in shaping Nigeria’s political landscape.
Each wave of protests underscores the citizens’ resilience and determination to hold their leaders accountable and address systemic issues.
This timeline provides an overview of the major protests that have erupted in Nigeria over the past two decades, highlighting the key events and underlying causes driving these collective actions.
1999 – 2009
1. 2000 – Sharia Law Protests:
The introduction of Sharia law in some northern states led to protests and violent clashes.
2. 2003 – Anti-Fuel Hike Protests:
Widespread protests were organised by labour unions against the government’s decision to increase fuel prices.
3. 2005 – Occupy Nigeria (Early Protests):
Protests against corruption and poor governance.
4. 2007 – Electoral Protests:
Protests against the alleged rigging of the presidential elections won by Umaru Musa Yar’Adua.
5. 2010 – Anti-Fuel Subsidy Removal Protests:
Protests against the removal of fuel subsidies led to increased fuel prices.
6. 2012 – Occupy Nigeria:
Massive nationwide protests against the removal of fuel subsidies which significantly increased the cost of living.
7. 2014 – #BringBackOurGirls:
A global movement and protests following the kidnapping of over 200 schoolgirls by Boko Haram in Chibok, Borno State.
2016 – 2020
8. 2016 – Biafra Agitations:
Protests by the Indigenous People of Biafra (IPOB) for the secession of the Southeast region.
9. 2017 – Anti-Buhari Protests:
Protests demanding President Muhammadu Buhari’s resignation due to prolonged medical leave abroad.
10. 2018 – NLC Protests:
Strikes and protests by the Nigerian Labour Congress (NLC) demanding an increased minimum wage.
11. 2020 – #EndSARS Protests:
Nationwide protests against police brutality, specifically the Special Anti-Robbery Squad (SARS), resulted in significant international attention and the eventual disbandment of SARS by the Nigerian government.
2021 – Present
12. 2021 – #EndSARS Memorial Protests:
Memorial protests marking the one-year anniversary of the #EndSARS movement.
13. 2022 – ASUU Strike Protests:
Protests and strikes by the Academic Staff Union of Universities (ASUU) over unpaid allowances and inadequate funding of the education sector.
14. 2023 – Fuel Subsidy Removal Protests:
