Professor Segun Ajibola, a distinguished economist and former President and Chairman of the Council of the Chartered Institute of Bankers, has criticized the ongoing hunger protests in Nigeria, stating that they have severely disrupted the economy and resulted in widespread losses for everyone involved.

According to Prof. Ajibola, the informal sector, which constitutes approximately 45 percent of Nigeria’s economy, has been particularly affected.

Disruptions to both human and vehicular movement have had a detrimental impact on operators within this sector, especially those running micro, small, and medium enterprises.

He highlighted that individuals in areas where curfews have been imposed, such as roadside mechanics, barbers, hairdressers, vulcanizers, market vendors, artisans, hawkers, and laborers, are experiencing significant hardships.

These individuals rely on daily activities for their livelihood and are particularly vulnerable when public protests impede their ability to work.

Prof. Ajibola emphasized that such large-scale protests disrupt economic activities and leave lasting scars on the economy.

The resulting challenges extend beyond individual losses, affecting the overall economic health and productivity at both personal and corporate levels.

He urged that dialogue and roundtable discussions are preferable to violent protests, which constrain economic activities and exacerbate the negative impact on the economy.

The protests, which began last Thursday under the banner of #EndBadGovernance, have escalated into violence in several northern states, including Plateau, Kaduna, and Kano.

This escalation has led to curfews being imposed, resulting in additional loss of lives and property. The protesters are demanding an end to the high cost of living in Nigeria.