Sit-At-Home: South East Lost Estimated N7.6 Trillion In Productivity, Potential Investment In Two Years 

An estimated N7.6 trillion in productivity, potential investments, and loss of lives and properties have been reportedly lost in two years in the southeast region of Nigeria due to weekly sit-at-home exercises practised on Monday.

Naija News reports the weekly sit-at-home exercise has been observed almost every Monday in the region since the Indigenous People of Biafra (IPOB) commenced the practice to protest the release of its leader, Nnamdi Kanu, in 2021.

This platform understands that August 9 would make it two years since the exercise started. Of the 730 days, 105 Mondays of the 520 working days have been lost regarding productivity or actual economic activity.

Out of the remaining 415 days expected to be utilised for work are various holidays declared.

An investigation by the International Centre for Investigative Reporting (ICIR) published in May this year on the region’s economy due to sit-at-home revealed a whopping N5.375 trillion loss by businesses between August 9, 2021, to December 19, 2022.

Speaking with The Guardian on the development, an Economic and Financial Expert, Dr Chiwuike Uba, stated that Southeast had lost “approximately N7.646 trillion between August 2021 and July 2023, having lost 101 days within the period”.

He noted that the economy of the southeast is bleeding from the compulsory Monday sit-at-home.

“It is important to note that the amount may be higher when all the direct and indirect costs of the sit-at-home are included in the basket. The current figure represents mainly the losses of microenterprises in the region. The social and economic costs of deaths, destruction of properties, and other costs are not included in the total economic loss to the region”, he stated.

Checks with the National Bureau of Statistics (NBS) revealed that the southeast region has the lowest revenue profile.

The NBS data on the Internally Generated Revenue (IGR) of various state governments in the country for the first quarter of 2021 indicated that the southeast region generated about N53 billion in the following order; Abia N7.550 billion; Anambra N12.773 billion; Enugu N14.140 billion; Ebonyi N7.753 billion and Imo N9.991billion

This was a few days before the commencement of the Monday sit-at-home in the zone.

None of the states in the zone met their revenue targets in the preceding year.

A review by Dataphyte, a media, research, and data analytics organization, about the projected IGR of states in the first quarter of 2023 indicated that aside from Anambra state, which achieved 27 percent of its projected revenue, other states in the region, including Imo, Enugu, Abia and Ebonyi states generated below 15 per cent of their projected internal revenue.

NBS, in its data, revealed that none of the states in the zone met their revenue targets in the preceding year.

Recall that the Anambra state governor, Prof Charles Soludo, had during his swearing-in on March 17, 2022, stated that every day there was a sit-at-home, the poor masses of the state lose as much as an estimated N19.6 billion.

He had listed those in this category as artisans, Keke drivers, vulcanizers, hairdressers, cart pushers, petty traders, bricklayers, women frying akara, and all who depend upon daily toil and sweat to feed their families.

Recently, the newly inaugurated governor of Enugu State, Peter Mbah, has threatened workers, schools, and market sellers to stop the practice he banned in June 2023.

Mbah had said the state was losing N10 billion every Monday that people observed sit-at-home in the state, noting that the trend was endangering the $30 billion GDP projection of his administration.

The governor stated “For us to transit from a public service economy to a private sector-driven one, we must free our markets from the shackles of restriction to commerce.

“There are consequences for not heeding our orders. Going forward, I want to put you on notice. I will go around the state again on Monday (July 24). We are going to come with the Enugu Capital Territory Development Authority to put a seal on any shop that is found locked on Monday because of the illegal sit-at-home. We will take it that you are not ready to do business.

“We are going to revoke your license to operate. We will revoke your shop title and reallocate it to someone else, who is ready to do business. This is something we must enforce with effect from Monday next week.

“It should never be heard that we were cowed because of the threat of violence by these criminals, the poverty that will befall us for sitting at home will kill us even faster.

“We are losing over N10bn every Monday that we sit at home. Enough is enough. This foolishness must end, and it must end now. We cannot marginalise ourselves and still complain of marginalisation.

“So, we must say no to sit-at-home because what it means is that we are destroying our employment, our economy, and our GDP. We must erase it from our memories. We should see it as our shameful past, which we do not want to remember. We must put it behind us and forge ahead, ensuring that we work every working day of the week.”