UNIABUJA Lecturer Warns Against Economic Fallout from Planned Nationwide Protests

In an urgent warning ahead of the planned nationwide protests on August 1, 2024, Dr. Adelodun Sadraq, a financial management expert and lecturer at the University of Abuja (UniAbuja), expressed grave concerns about the potential negative impact of the protests on Nigeria's already struggling economy.  

Speaking during a media interview in Abuja on Wednesday, Dr. Sadraq emphasized that historical precedents show no significant financial benefits from strikes in Nigeria, highlighting that they tend to disrupt economic activities rather than enhance them.  

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“It’s true average Nigerians are surviving on low income and daily earnings,” he noted, pointing out that numerous sectors, including transport workers, artisans, and petty traders, would be severely affected if protests lead to business shutdowns.  

Dr. Sadraq articulated that a prolonged nationwide protest could deliver a “devastating blow” to the economy and could be perceived as an act of economic sabotage. He called for stakeholders to consider alternative methods of expressing grievances, urging the protest leaders to present their requests in a constructive manner rather than resorting to disruptive actions.  

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“Public protest in all 36 states for 10 days is a deliberate plan to shut down the country, which will have dire consequences,” he said, warning that it would result in billions of naira in losses for both the government and individuals reliant on daily transactions for their livelihoods.  

While acknowledging the legitimate right of citizens to protest peacefully, Dr. Sadraq cautioned that the potential for violence and chaos should not be overlooked, recalling past instances where protests escalated into riots. He urged Nigerians to allow the new administration time to implement its agenda before resorting to mass demonstrations.  

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“Given our experiences with protests turning chaotic, I counsel that the planned protests be shelved,” he advised. “We are already on the pathway to recovery, and a nationwide protest will set us back significantly.”  

Dr. Sadraq concluded by encouraging restraint among all parties involved and expressing hope that, through patience and collaboration, Nigeria can navigate its current challenges.