The Negative Economic Impact Of #EndSARS Protest In Nigeria
NJOKU MACDONALD OBINNA
There is no doubt that every country has its peculiar challenges to master and overcome; even the developed countries: Because, “At every new level, there is always a new devil (challenge)”.
The United States of America for instance, having advanced in technology, security architectures with formidable trained military personnel, is dealing with concrete policy reforms designed to improve the performance of government institutions.
Mr. Donald Trump, at inception of office, had had reasons to reform the immigration policy and regulate the influx of foreigners especially, the blacks, into the American soil. The health care system adopted by his immediate predecessor, Barrack Obama, was also altered as a new one was introduced.
Several countries, including Germany, New Zealand, Australia, Canada, Sweden, have all engaged in successful policy reform efforts of various stripes and degrees over the past two decades; liberalizing labour markets, reducing deficits, and changing institutional rules in the face of substantial political push back.
In developed climes, institutions matter when it comes to flexibility and reform prospects. Regrettably, it is a complete different story and experience in the African continent especially, Nigeria; where almost all government institutions starting from the Independent National Electoral Commission, INEC, Nigeria Police Force- NPF, Nigeria National Petroleum Corporation, NNPC, Nigerian Ports Authority, Nigerian Customs Services , Nigerian Immigration Service,the Judiciary, etc, are fragmented, weak and are easily compromised. The height of alleged corruption in a number of these Federal Government Ministries, Departments and Agencies, MDAs, are better imagined than thoroughly exposed, to that degree that even the Economic and Financial Crimes Commission, EFCC, the most dreaded anti-graft agency, is not exempted from corruption allegations by Independent International Observers.
Nevertheless, Nigeria as a ‘third world nation’, or friendly put; ‘ developing country’ is easily and usually hit harder by economic recession during any crisis or war situation because there are no ‘strong institutions’ but rather ‘strong leaders.’ Permit me to say, recycled politicians and the cabal; as the economy and leadership revolves around this privileged few.
Following the protracted and well organised #EndSARS peaceful protest across the country, which elicited sympathy and solidarity from Nigerians in the diaspora, the end to this continued struggle is yet in sight as the protesters unanimously demanded for a better Nigeria and meaningful living in a country where the masses are silently dying of hunger and are deprived of basic social amenities; while elected officials and other leaders live a most luxurious, lavished and larger than life mileu.
It’s quite unfortunate that, what earlier started as a peaceful protest in a most coordinated manner without leadership, as many movie stars and music celebrities joined the youths to advocate for social justice and an end to Police brutality was later hijacked by alleged government sponsored hoodlums and miscreants to disrupt the protest as they exchanged batons, clubs and other dangerous weapons with Nigerian youths across the states.
Just as the devil fishes in troubled waters, these hoodlums ceased the opportunity, which the protest created, to break people’s stores, Government owned warehouses where COVID -19 food relief materials were stored as they vandalised and carted away with goods and food items worth billions of Naira across the country.
Lagos State was not spared. Others included Plateau State, Kaduna State, Kogi State, Osun State, Anambra State, Cross River State, Enugu State, Edo State, and still counting as both peaceful protesters and the hoodlums were having field days in vandalizing and carting away food relief materials owned by Governments and unfortunate private individuals.
Houses and mansions were set in flames, Police stations across the country were razed down, well established businesses and government agencies were gutted by inferno orchestrated by these hoodlums as they wielded guns and other dangerous weapons fleeing Police officers and security agents abandoned for safety least they are lynched by the aggrieved protesters and the hoodlums.
Don’t forget that part of what triggered and fuelled the above unfortunate incident of vandalism and looting of goods and properties of both private individuals and the Government was the Tuesday, October 20, 2020 #LEKKI TOLLGATE MASSACRE as national and private owned television stations captured videos and voice footages of the carnage at the Lekki Tollgate by alleged Nigerian soldiers and armed security agents who threw caution to the wind as they opened fire on armless, harmless and peaceful protesters. An inhumane and despicable undemocratic action qualified to be rated as a genocide and a typical holocaust as international communities and the rest of the world condemn the Nigerian Government.
While many lives were lost, others sustained different degrees of injuries in their strong resolve to end bad governance and social injustice in Nigeria. Heroes and heroines were birthed in the cause of the struggle as a new Nigeria is in the offing. Suddenly, new voices emerged in the country, the likes of DJ Switch, Aisha Yesufu, Omoleye Sowere and others who, put their lives in jeopardy so as to raise the bar for social awareness of the protest and sustain same all through the period before hoodlums found an opportunity to hijack the exercise.
Regrettably, the resultant effects of this protest and associated damages by hoodlums will not only trigger hunger and further the social unrest because dangerous weapons are now in the hands of a number of the miscreants, but will also cause huge loss of income per capital, job retrenchment, increase in exchange rate, marginal drop of oil prices in the international market and sharp increase of oil prices at home, as most establishments will not be able to pay worker’s salaries and meet up with overhead costs and logistical operations.
Unfortunately, Nigeria as a third world nation, and her economy, may relapse into a prolonged coma if urgent interventionist approach by the Federal Government is not adopted to reconstruct most of the vandalised Government establishments across the states especially, in Lagos, Africa’s largest market and the country’s most productive commercial hub.
The uncomfortable truth remains that, Nigeria was never ready and prepared for this shock that has inadvertently befallen her as most of her citizens and many families are already turning to beggars as those whose direct businesses or sources of livelihood were affected by both the COVID-19 pandemic and the #EndSARS protracted protest are obviously stranded, to say the least .
Ironically, the Nigerian youths or poor masses shall be on the receiving end of this social unrest if their demands are not practically met by the governments. It’s a case of honestly addressing the issues and demands of the Nigerian youths ‘NOW or NEVER’ as it may take another 40 years for a social movement like this to happen again in the annals of history because the masses have completely lost confidence and trust in the leadership.
Already, facts, figures and cost of reconstructing damaged Government properties and establishments by the alleged hoodlums and looters have started trickling in as the negative economic impact of the #EndSARS protest across the country shall leave a sour taste on the lips of all Nigerians as we pay N1.23k extra on petrol as administration charge.
Reports have it that banks lost over N1bn as thugs wrecked ATMs of select branches of First Bank, Access Bank in Enugu State, while a branch of Guaranty Trust Bank in Lagos State was allegedly set in flames by aggrieved protesters and hoodlums aftermath the Tuesday, October 20, 2020, Lekki Tollgate Massacre.
The Cross River State Governor, Prof. Ben Ayode, while on the spot assessment of the level of damages of Government properties by the hoodlums was reported to have estimated about N5bn as the cost for reconstructing all damaged Government establishments in a very peaceful state that has little allocation.
In Lagos State, Mr. Babajide Sanwo-Olu has estimated a whooping sum of N1trn as the cost of fixing destroyed Government assets and establishments that productively engaged more than 50,000 Nigerians from different states.
Moving forward: A former Governor of the Central Bank of Nigeria, Prof. Charles Soludo, while regretting that what initially started as a peaceful protest eventually lost its strategic direction as hoodlums and miscreants infiltrated the protest and hijacked same.
He however, urged the Federal Government to allow the youth to be at the fore in policy making and implementation for the country. Part of this was contained in an article he wrote regarding the uprising by the youth against Police brutality and the call for better governance in Nigeria.
Charles Soludo, a foremost Economist, also asked the Federal Government to exploit the opportunity inherent in the current national tragedy by establishing a structure managed by the youth and one that would address their challenges.
According to the former CBN Governor, Charles Soludo, such a structured dialogue under whatever platform, for example: ‘Commission for the Future of Nigerian Youths’ should be dominated by the youths from the 36 States and FCT at the center of the table. “It could be an ad-hoc or permanent commission, separate from the Ministry of Youths and Sports but with defined timelines to deliver results.
As at the time of compiling this report, many states across the country are counting their losses as both Federal and State governments have promised to look into the challenges and demands of the Nigerian youths while calling them to sheath their swords and embrace dialogue.
– Njoku MacDonald ObinnaMedia Consultant|News Reporter|PR-ExpertPublisher,
4thestatereporters.com
