October 22, 2020/Cordros Report
Since October 8th, youths in the commercial hub of the country, Lagos, have taken to the streets to protest against police brutality and the excesses of a unit in the Nigeria Police Force known as the Special Anti-Robbery Squad (SARS).
By October 20th, it had spread to all the major cities in the country. Although the protests were initially limited to online media, it extended to physical demonstrations and closure of roads across the country while the scope of demands expanded to cover reformation of the entire police force and better governance practices.
In recent times, there have been reported cases of hoodlums hijacking the protest for personal gain. This has heightened concerns about the degeneration of the protest and the attendant impact on gains earmarked since the re-opening of the economy in May.
Already, some state governments have begun to impose curfews to douse the tension and restore law and order.
In this report, we espouse our views on the likely impact of the ongoing social unrest on the economy and the markets.
