Business operators lose N328 billion to strike in four days

The business community may have been losing over N82 billion daily to the total shut down of the economy since the commencement of the ongoing strike embarked upon by Nigerians to fight against removal of subsidy. As at today, the business sector has lost over N328 billion. The Lagos Chamber of Commerce and Industry (LCCI), the Industry/Small and Medium Industry of the National Association of Chambers of Commerce (NACCIMA) and the agricultural and agro allied operators, in separate statements, advised the Federal Government to ensure an early resolution of the ongoing crisis in the country, in the interest of the economy. The Director-General of LCCI, Muda Yusuf, said the business sectors’ contribution to the economy has been eroded due to the ongoing strike. He said many cargoes at the ports were incurring huge demurrage; interest costs on borrowed funds were mounting, the perception of the country abroad has also worsened and investors’ confidence in the economy had further weakened in the last few days.


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