Africa Press-Nigeria:
The International Monetary Fund (IMF) yesterday expressed concern about the civil unrest in Lagos and some other parts of Nigeria, following the shooting of some #EndSARS protesters Lekki Tollgate on Tuesday night.
Responding to a THISDAY question during a media briefing on the ‘Africa Regional Economic Outlook,’ at the ongoing Annual Meetings of the IMF/World Bank in Washington DC, the Director of IMF’s African Department, Mr. Abebe Aemro Selassie, said the civil unrest in Lagos, which contributes significantly to Nigeria’s overall Gross Domestic Product (GDP), could have a negative consequence on the economy.
He called for timely resolution of the crisis to prevent the economy, which is still reeling from the effects of the COVID-19 pandemic, from slipping further into a tailspin.
Selassie said: “Are we concerned? We are always concerned when we see protests, particularly ones that are difficult like the one in Nigeria at the moment, but also anywhere in the world, and we hope that there would be a satisfactory resolution there.”
Speaking on the support the multilateral institution granted the West African country earlier this year, he said it was to cushion the effects of the pandemic and the economic crisis that has unfolded due to COVID-19.
According to him, the pandemic led to a massive decline in tax revenues in Nigeria, even when there was a compelling need for governments to spend resources on health, education and other critical sectors of the economy.
