Radio TNT 102.5 FM

The last five days have been hellish for Nigeria and its economy amid hunger protests.

This is as security red alerts spread to states, especially the North West of Nigeria.

Police and government authorities have reported the spread of property destruction, and shop looting in Kaduna, Plateau, and Bauchi as hoodlums hijacked the protests to wreak havoc.

This is also as rioters were arrested in Abuja and some other parts of the North with Russian flags.

A similar incident happened in Kano State, and the police said they have arrested the tailor responsible for the mass production of the flag.

The Russian Embassy in Nigeria has denied involvement in the display of its flag by protesters in Nigeria.

While the motive remains unclear, the Chief of Defence Staff, General Christopher Musa said displaying Russian flags in Nigeria was treasonable, and vowed to crack down on culprits.

The continued escalation of violence on Day 5 of protests, tagged #endbadgovernance, had resulted in Bauchi, Kaduna, and Plateau states recently announcing 24-hour curfews.

Earlier, Borno, Kano, Katsina, Jigawa, and Zamfara states declared 24-hour curfew in affected areas in order to contain looming anarchy.

Curfew declarations in states have further worsened the woes of the nation’s economy.

With the economy already declining, the declaration of curfew in states pushes the country’s economy to near collapse.

Association of Small Business Owners of Nigeria, ASBON, said an estimated N600 billion has been lost in the last five days.

The Centre for the Private of Private Centre had earlier said the country risks losing N400 billion daily to the protests.

The continued reports of violent rioting and the dissemination of fear in the generality of Nigeria leaves more than expected in the minds of investors.

Outside the loss of lives and looting of shops and properties, investors at the Nigeria Exchange Limited lost N92 billion at the end of the trading session on Monday.

The same goes for Nigeria Eurobond. There was a massive sell-off at the dollar-dominated bond amid the protests and uncertainties.

This comes despite a call by President Bola Ahmed Tinubu in his Sunday broadcast for the protests’ suspension to dialogue with the government.

Skeletal business in Abuja

Major businesses opened for transactions, but patronage was low on Monday in Abuja.

Our correspondent, who went around Wuse Market, gathered that there were skeletal business activities.

“We are open for business today as we did on Saturday. There is low patronage. I think people are still scared of coming out due to the protests. I hope things will be better in the coming days, “a businessman, Ifeanyi Okoro at Wuse Market, told DAILY POST.

It was the same situation in Banex Plaza, Dutse Market, and Utako Market.

Also, banks opened in the nation’s capital but had skeletal operations.