Tuesday, March 5, 2024


The private sector has expressed serious concern about the rising incidents of theft targeting trucks transporting food and essential goods, warning that if not addressed promptly, it could lead to the shutdown of industries nationwide.

Gabriel Idahosa, President of the Lagos Chamber of Commerce and Industry, stressed that prevailing economic challenges are fueling disorder, potentially worsening the plight of businesses and even leading to closures.

He remarked, “The government may urge patience, but hunger waits for no one. In a state of lawlessness, anarchy looms."

"In such chaos, distinctions between public and private property blur. Looters are indiscriminate, driven solely by the need for sustenance. This necessitates concrete actions to alleviate hunger," he added.

Idahosa highlighted the escalating thefts in recent days, noting the significant financial losses suffered by top manufacturing companies in 2023, potentially forcing them to shut down and lay off employees.

He recounted, “Numerous companies, both large and small, are reporting losses in the billions. This dire situation may not make headlines, but its impact is profound."

"Foreign CEOs are expressing bewilderment and frustration, contemplating the drastic step of closing operations and terminating employment," he concluded.

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