Inflation may rise if looting continues — Economist –


Inflation, Nigeria

Dr Aminu Usman, an Economist says inflation may worsen if looting continues and states are forced to shut down, especially Lagos, as a result of effects of the activities of hoodlums in the aftermath of the #EndSARS protests.

Usman, who is the Dean, Faculty of Social Sciences, Kaduna State University, said this in an interview with the News Agency of Nigeria (NAN), on Monday in Abuja.

According to him, the limitation of movement in Lagos will affect supply chains for finished and secondary goods, as well as the movement of foods and other items from Lagos into other states in the south.

He said that the economic implication of the protests and its aftermath was better imagined as the economy was just recovering from the COVID-19 pandemic lock down which caused it to shrink in the second quarter of the year.

“To say the least, we are certain to go into recession the second time within four years having passed through same in 2016.

“The economy now facing a second…

Source: Vanguard Newspaper