Southeast lost N7.6tr to IPOB’s sit-at-home in four years – Report
Image Credit: guardianA report by SBM Intelligence reveals that businesses in Nigeria’s southeastern region have lost N7.6 trillion over nearly four years due to weekly sit-at-home orders enforced by the Indigenous People of Biafra (IPOB).
The sit-at-home directive, observed every Monday since August 2021, is aimed at pressuring authorities to release IPOB leader Nnamdi Kanu, who is on trial for terrorism allegations.
The order has led to widespread economic inactivity, with sectors like trade and transportation suffering significant income losses averaging 50-70%, and has caused 776 fatalities during the period.
Micro-businesses reportedly lost N4.6 trillion annually, and transporters forfeited between N10 and N13 billion.
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