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Home Business News

Cost of living crisis: Abuja residents raid, loot NEMA warehouse

Chike Olisah by Chike Olisah
March 3, 2024
in Business News
Cost of living crisis: Abuja residents raid, loot NEMA warehouse
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There are reports that some residents of the Federal Capital Territory (FCT) on Sunday morning, raided and looted a warehouse which was alleged to belong to the National Emergency Management Agency (NEMA) over the current economic hardship across the country.

It was reported that the looted warehouse is located in the Karimo, Phase 3 Region of the FCT area of Abuja.

This is coming against the backdrop of protests in the past couple of weeks in some parts of the country over the current high cost of living in the country.

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According to reports, dozens of Abuja residents were seen forcefully carting away foodstuffs and other items from the warehouse.

The spokesperson of the FCT Police command, Josephine Adeh, who confirmed the incident, however, noted that the situation has been brought under control with police men deployed to the area to disperse these looters.

She said, “The situation is now under control.”

What you should know

Nigerians have expressed frustration of over the severe hardship they are currently facing due to the rising costs of foodstuffs and other goods, compounded by the removal of fuel subsidy and the unprecedented devaluation of the naira.

They lament that the economic policies of the President Bola Tinubu administration have pushed the prices of these goods and services astronomically.

There has been protests in some parts of the country, including Lagos, Ibadan in Oyo State, Edo State. Kano State, Ekiti State, and others over skyrocketing price of food items and the state of the economy.

In a similar incident, recall that about 2 weeks ago, some residents of Ankpa community in Kogi State, had illegally hijacked a Dangote truck fully loaded with bags of cement with all of them looted.

They were reported to angry youth had alleged that the Group Chief Executive Officer of the Dangote Group, Aliko Dangote, is part of those sabotaging the Nigerian economy.

More to follow…


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Tags: cost of livingEconomic HardshipFCTNEMA
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 1

  1. SADIQ YUSUF says:
    March 3, 2024 at 3:30 pm

    Can’t the Government see the hand writing on the wall that ANARCHY is looming, there will no Government to be proud of. …
    Do something Now, by opening our boarders for Food inflow before eliminating the insecurity that is preventing farmers to go to farm and subsequent Harvest.

    Reply

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