Small Businesses bear the brunt of nationwide protest, economic losses mount

By Abiodun Abdullahi

The nationwide protest against economic hardship has significantly disrupted small businesses across Nigeria, amplifying economic challenges for many entrepreneurs and workers. The demonstration highlights the public’s growing frustration over rising living costs and inadequate government policies.

The Centre for the Promotion of Private Enterprise (CPPE) estimates that the protest could result in daily economic losses of approximately N400 billion. This substantial financial hit is primarily due to widespread shutdowns and disruptions in various sectors, including trade, manufacturing, and services

Many small business owners joined the protest by closing their establishments, which has led to considerable income losses for daily wage earners and further strained the informal economy, where over 90% of employed Nigerians operate

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Economic experts and business leaders are calling on the government to expedite economic stabilization plans to alleviate production costs and reduce inflation. They warn that extended protests could lead to deeper economic instability and social unrest

As the protest continues, the urgency for constructive dialogue between the government and citizens intensifies. Leaders across various sectors stress the importance of addressing the underlying issues driving the protests to find sustainable solutions for Nigeria’s economic challenges