The aftermath of the Lekki Toll gate shootings is threatening to cause a huge standstill to a Nigerian economy already struggling to stand it’s ground.
As fires of anger continue to ravage Lagos and other parts of the country, fears are growing concerning the reverse effects this could have on The economy.
The #EndSars protests have escalated In recent days leaving behind a trail of bloodshed, destruction of properties. This is showing no signs of slowing down as protesters continue to defy curfew set in various states to continue in demonstrations.
These turn of events have left a trail of destruction on critical infrastructure. In Lagos, The Corporate head quarters of The Nigerian Ports Authority, The Lagos Concession company, LCC, BRT terminus, Oyingbo, are some of the structures that were not spared in these destructions.
The government imposed a 24-hour curfew across the state but this has been defied as demonstrators continue to storm the streets.
In some other states of Nigeria such as IMO state, Enugu state, Abia state, Ebonyi State, Curfews have been announced as a result of these escalating crisis. Violence has continued to rock parts of the south-east, South-west and even the North. This has caused a major economic slowdown in these states.
The Nigerian economy has been losing ground recently. Rebounds in the stock market and loss of ground in the foreign exchange, coupled with increase in prices of food commodities, are some of the major issues confronting the nation. The constant roadblocks and tensions in various Nerve centres of the economy has stoked the fires of a looming economic crisis.
Lagos as the financial capital of Nigeria has been the worst hit since the #EndSars crisis began. Most shops have been on lock down, and overall economic activities have slowed down. It remains to be seen how the crisis would be contained, as economic experts warn that the nation has reached and inflection point. A very sensitive point in the crisis.
