Emily Adams
Fri, Jul 14, 2023 10:40 PM

Sit-At-Home Order in South East Costs Region N4 Trillion in Two Years: Deputy Speaker of House of Reps

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Sit-At-Home Order in South East Costs Region N4 Trillion in Two Years: Deputy Speaker of House of Reps
Deputy Speaker of the House of Representatives, Honourable Benjamin Kalu, has revealed that the ongoing sit-at-home order in the South East region has resulted in a loss of about N4 trillion over the last two years. The weekly stay-at-home protest, observed every Monday in the region, has crippled businesses and deterred potential investors. Kalu called for collective efforts to end the sit-at-home order, emphasizing the negative impact it has on Igbo entrepreneurship and the economy.

The South East region has been facing significant economic challenges due to the continuance of the sit-at-home order, resulting in a loss of approximately N4 trillion over the past two years. The Deputy Speaker of the House of Representatives, Honourable Benjamin Kalu, revealed this alarming statistic during a keynote address at the "All Markets Conference 2023" in Lagos.

According to Kalu, the sit-at-home order observed every Monday in the states of Abia, Anambra, Enugu, Ebony, and Imo, has severely impacted businesses and stifled opportunities for economic growth in the region. The ongoing insecurity and the resulting migration of Igbo businesses to other parts of Nigeria and West & Central African region are a cause for concern.

Kalu emphasized that such migration is not in line with the entrepreneurial spirit of the Igbo people. He called for collective efforts from all Igbo sons and daughters to address the menace and find lasting solutions to the security challenges in the region.

The Deputy Speaker highlighted the significant loss incurred by businesses as a result of the stay-at-home order, stating that statistical data indicates a staggering loss of N4 trillion in the last two years in the Southeast alone. This loss also affects businesses across Nigeria, particularly in the supply chain.

While expressing his pain and concern for the current state of affairs in the region, Kalu urged Igbo business owners not to retreat from their endeavors. He stressed the importance of finding innovative strategies to address the security challenges and restore normalcy to business activities in Igboland.

Kalu also reminded Igbo people residing outside their region to uphold peaceful and friendly relationships with their host communities. He highlighted the constitutional backing protecting the rights of every Nigerian citizen to move, reside, and trade anywhere within the country.

In conclusion, Kalu called for unity and cooperation among the Igbo people, drawing inspiration from the historical collaborations between the Igbo and Yoruba communities in Lagos and other parts of the Southwest. He cited the examples of Sir Louis Odumegwu Ojukwu's role as the founding president of The Nigerian Stock Exchange and the partnership between Nnamdi Azikiwe and Sir Herbert Badmus Macaulay during the glory days of the National Council of Nigeria and the Cameroons (NCNC).

Source of content: OOO News 2023-07-14 News

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