IBOV 175,017.19 ▼ 0.56% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL5.11▲ 0.56% USD/MXN17.44▲ 0.31% USD/CLP927.20▲ 0.13% USD/COP3,221▼ 1.21% USD/PEN3.39▲ 0.29% USD/ARS1,474▼ 0.14% USD/UYU40.18▲ 1.21% USD/PYG6,030▲ 1.35% USD/BOB10.63▲ 3.73% USD/DOP58.14▼ 0.19% USD/CRC447.87▲ 1.07% USD/GTQ7.62▲ 2.25% USD/HNL26.73▲ 0.09% USD/NIO36.62▲ 0.34% USD/VES725.63▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.31% USD/TTD6.75▲ 1.34% EUR/BRL5.84▲ 0.52% BRENT 84.44 ▼ 0.60% WTI 78.43 ▼ 1.47% IRON ORE 161.91 — — COPPER 6.34 ▲ 0.72% GOLD 3,995 ▼ 1.20% SILVER 56.31 ▼ 1.40% SOY 1,196 ▼ 0.50% CORN 463.25 ▲ 3.52% WHEAT 672.75 ▼ 0.70% COFFEE 313.30 ▼ 6.32% SUGAR 14.46 ▼ 2.63% ORANGE JUICE 134.65 ▼ 3.02% COTTON 79.07 ▼ 1.85% COCOA 5,411 ▼ 5.68% BEEF 222.75 ▼ 3.20% CATTLE 344.95 ▼ 1.43% LITHIUM 69.02 ▼ 2.87% PETR4 40.58 ▼ 0.02% VALE3 72.79 ▼ 2.31% ITUB4 42.61 ▼ 1.23% BBDC4 18.39 ▼ 1.13% ABEV3 15.67 ▲ 0.64% BBAS3 20.58 ▲ 0.15% B3SA3 15.46 ▼ 1.47% WEGE3 43.73 ▼ 1.20% PRIO3 57.69 ▲ 0.33% SUZB3 42.10 ▲ 1.49% RENT3 39.66 ▼ 1.71% AZZA3 18.61 ▼ 0.27% CSAN3 3.92 ▼ 0.25% RAIZ4 0.29 — 0.00% PCAR3 2.69 ▲ 2.67% GMAT3 3.93 ▼ 1.26% PSSA3 55.11 ▼ 0.20% CVCB3 1.36 ▲ 1.49% POSI3 3.87 ▼ 2.03% SLCE3 13.66 ▲ 1.19% NATU3 8.62 ▼ 0.58% BRKM5 6.12 ▼ 4.52% RANI3 8.09 ▲ 1.38% CSNA3 5.14 ▼ 1.91% CMIN3 5.47 ▲ 4.39% USIM5 8.13 ▼ 0.85% GGBR4 24.07 ▼ 0.54% ENEV3 26.27 ▼ 2.52% CPFE3 46.79 ▼ 0.09% CMIG4 11.05 ▼ 0.90% EQTL3 40.02 ▼ 0.77% LREN3 13.69 ▼ 2.91% VIVT3 35.65 ▲ 0.51% RAIL3 14.06 ▼ 0.07% KLABIN 17.52 ▲ 0.75% RAIA DROGASIL 18.69 ▲ 0.11% RDOR3 35.74 ▼ 0.75% HAPV3 10.74 ▼ 2.27% FLRY3 16.37 ▼ 0.85% SMTO3 15.72 ▲ 1.22% UGPA3 31.84 ▲ 2.38% VBBR3 34.43 ▲ 2.01% BBSE3 40.91 ▲ 0.49% BPAC11 56.65 ▼ 0.68% CURY3 32.05 ▼ 2.08% AERI3 2.02 — 0.00% VIVARA 23.23 ▼ 1.23% COMPASS 24.97 ▼ 0.56% VAMOS 3.19 ▲ 2.24% SANB11 26.89 ▼ 0.41% ASAI3 8.54 ▼ 1.39% SBSP3 29.81 ▼ 0.57% WALMEX 49.47 ▼ 0.46% GMEXICO 200.90 ▲ 0.34% FEMSA 224.30 ▲ 0.46% CEMEX 22.89 ▲ 1.19% GFNORTE 179.71 ▼ 2.04% BIMBO 59.41 ▲ 3.29% TELEVISA 9.56 — 0.00% AMX 22.84 ▲ 0.18% GAP 390.10 ▼ 1.76% ASUR 281.31 ▼ 0.76% OMA 232.51 ▼ 1.14% KOF 179.44 ▲ 1.40% GRUMA 286.23 ▲ 1.74% KIMBER 38.73 ▲ 0.18% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 77,950 ▼ 0.76% GGAL 7,935 ▼ 3.29% PAMPA 5,125 ▼ 2.19% TXAR 669.00 ▼ 0.30% ALUAR 954.50 ▼ 0.52% TGS 9,500 ▼ 2.56% CEPU 2,293 ▼ 2.18% MIRGOR 16,700 ▼ 1.62% COME 44.99 ▼ 1.40% LOMA NEGRA 3,618 ▲ 0.14% BYMA 302.00 ▼ 0.66% TELECOM ARG 4,248 ▼ 1.56% ECOPETROL 15.93 ▼ 0.31% BANCOLOMBIA 79.43 ▼ 2.60% GRUPO AVAL 4.96 ▼ 1.49% CREDICORP 390.08 ▼ 2.04% SOUTHERN COPPER 175.95 ▼ 3.08% BUENAVENTURA 30.17 ▼ 1.76% MERCADOLIBRE 1,852 ▲ 0.46% NUBANK 13.90 ▲ 0.16% XP 16.71 ▼ 0.98% PAGSEGURO 9.23 ▲ 0.16% STONE 11.24 ▼ 0.35% GLOBANT 33.47 ▲ 4.64% TECNOGLASS 47.03 ▲ 2.97% GAP AIRPORT 223.83 ▼ 1.74% ASUR 281.31 ▼ 0.76% OMA AIRPORT 106.61 ▼ 1.20% AMX ADR 26.14 ▲ 0.10% FEMSA ADR 128.51 ▼ 0.20% CEMEX ADR 13.14 ▲ 0.54% PETROBRAS ADR 17.66 ▼ 1.15% VALE ADR 14.23 ▼ 3.00% ITAU ADR 8.34 ▼ 1.36% SANTANDER BR 5.31 ▼ 0.84% AMBEV ADR 3.07 ▲ 1.16% CSN 1.02 ▼ 1.46% GERDAU 4.73 ▼ 1.56% LATAM ADR 53.89 ▼ 1.79% BTC 64,262 ▼ 0.70% ETH 1,873 ▼ 2.28% SOL 76.00 ▼ 1.64% XRP 1.11 ▼ 0.64% BNB 576.19 ▼ 0.67% ADA 0.16 ▼ 1.27% DOGE 0.07 ▼ 1.05% AVAX 6.59 ▼ 1.58% LINK 8.39 ▼ 1.67% DOT 0.84 ▼ 0.29% LTC 45.13 ▲ 0.01% BCH 221.90 ▼ 0.56% TRX 0.32 ▼ 0.44% XLM 0.19 ▲ 1.31% HBAR 0.07 — 0.00% NEAR 2.07 ▲ 0.09% ATOM 1.53 ▼ 1.77% AAVE 91.97 ▼ 4.03% SELIC 14.25% EMBRAER 82.80 ▲ 0.55% EMBRAER ADR 64.93 ▲ 0.04% JBS 12.27 ▲ 1.36% JBS BDR 62.36 ▲ 1.51% MBRF3 15.23 ▼ 1.10% MBRFY 2.98 ▲ 3.83% INTER 5.55 ▼ 1.33% EGX 52,928 ▲ 0.70% USD/ZAR16.42▲ 0.58% USD/NGN1,378▼ 0.12% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY162.49▲ 0.19% USD/CNY6.76▼ 0.10% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD1.14▼ 0.25% GBP/USD1.35▲ 0.48% SPX 7,554 ▼ 0.24% DJI 52,708 ▲ 0.09% NDX 29,131 ▼ 1.26% RUT 2,978 ▲ 0.05% TSX 35,381 ▼ 0.10% VIX 16.32 ▲ 4.15% USD/CAD1.41▲ 0.11% US10Y 4.5800 ▲ 0.77% IBOV 175,017.19 ▼ 0.56% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL 5.11 ▲ 0.56% USD/MXN 17.44 ▲ 0.31% USD/CLP 927.20 ▲ 0.13% USD/COP 3,221 ▼ 1.21% USD/PEN 3.39 ▲ 0.29% USD/ARS 1,474 ▼ 0.14% USD/UYU 40.18 ▲ 1.21% USD/PYG 6,030 ▲ 1.35% USD/BOB 10.63 ▲ 3.73% USD/DOP 58.14 ▼ 0.19% USD/CRC 447.87 ▲ 1.07% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.73 ▲ 0.09% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.31% USD/TTD 6.75 ▲ 1.34% EUR/BRL 5.84 ▲ 0.52% BRENT 84.44 ▼ 0.60% WTI 78.43 ▼ 1.47% IRON ORE 161.91 — — COPPER 6.34 ▲ 0.72% GOLD 3,995 ▼ 1.20% SILVER 56.31 ▼ 1.40% SOY 1,196 ▼ 0.50% CORN 463.25 ▲ 3.52% WHEAT 672.75 ▼ 0.70% COFFEE 313.30 ▼ 6.32% SUGAR 14.46 ▼ 2.63% ORANGE JUICE 134.65 ▼ 3.02% COTTON 79.07 ▼ 1.85% COCOA 5,411 ▼ 5.68% BEEF 222.75 ▼ 3.20% CATTLE 344.95 ▼ 1.43% LITHIUM 69.02 ▼ 2.87% PETR4 40.58 ▼ 0.02% VALE3 72.79 ▼ 2.31% ITUB4 42.61 ▼ 1.23% BBDC4 18.39 ▼ 1.13% ABEV3 15.67 ▲ 0.64% BBAS3 20.58 ▲ 0.15% B3SA3 15.46 ▼ 1.47% WEGE3 43.73 ▼ 1.20% PRIO3 57.69 ▲ 0.33% SUZB3 42.10 ▲ 1.49% RENT3 39.66 ▼ 1.71% AZZA3 18.61 ▼ 0.27% CSAN3 3.92 ▼ 0.25% RAIZ4 0.29 — 0.00% PCAR3 2.69 ▲ 2.67% GMAT3 3.93 ▼ 1.26% PSSA3 55.11 ▼ 0.20% CVCB3 1.36 ▲ 1.49% POSI3 3.87 ▼ 2.03% SLCE3 13.66 ▲ 1.19% NATU3 8.62 ▼ 0.58% BRKM5 6.12 ▼ 4.52% RANI3 8.09 ▲ 1.38% CSNA3 5.14 ▼ 1.91% CMIN3 5.47 ▲ 4.39% USIM5 8.13 ▼ 0.85% GGBR4 24.07 ▼ 0.54% ENEV3 26.27 ▼ 2.52% CPFE3 46.79 ▼ 0.09% CMIG4 11.05 ▼ 0.90% EQTL3 40.02 ▼ 0.77% LREN3 13.69 ▼ 2.91% VIVT3 35.65 ▲ 0.51% RAIL3 14.06 ▼ 0.07% KLABIN 17.52 ▲ 0.75% RAIA DROGASIL 18.69 ▲ 0.11% RDOR3 35.74 ▼ 0.75% HAPV3 10.74 ▼ 2.27% FLRY3 16.37 ▼ 0.85% SMTO3 15.72 ▲ 1.22% UGPA3 31.84 ▲ 2.38% VBBR3 34.43 ▲ 2.01% BBSE3 40.91 ▲ 0.49% BPAC11 56.65 ▼ 0.68% CURY3 32.05 ▼ 2.08% AERI3 2.02 — 0.00% VIVARA 23.23 ▼ 1.23% COMPASS 24.97 ▼ 0.56% VAMOS 3.19 ▲ 2.24% SANB11 26.89 ▼ 0.41% ASAI3 8.54 ▼ 1.39% SBSP3 29.81 ▼ 0.57% WALMEX 49.47 ▼ 0.46% GMEXICO 200.90 ▲ 0.34% FEMSA 224.30 ▲ 0.46% CEMEX 22.89 ▲ 1.19% GFNORTE 179.71 ▼ 2.04% BIMBO 59.41 ▲ 3.29% TELEVISA 9.56 — 0.00% AMX 22.84 ▲ 0.18% GAP 390.10 ▼ 1.76% ASUR 281.31 ▼ 0.76% OMA 232.51 ▼ 1.14% KOF 179.44 ▲ 1.40% GRUMA 286.23 ▲ 1.74% KIMBER 38.73 ▲ 0.18% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 77,950 ▼ 0.76% GGAL 7,935 ▼ 3.29% PAMPA 5,125 ▼ 2.19% TXAR 669.00 ▼ 0.30% ALUAR 954.50 ▼ 0.52% TGS 9,500 ▼ 2.56% CEPU 2,293 ▼ 2.18% MIRGOR 16,700 ▼ 1.62% COME 44.99 ▼ 1.40% LOMA NEGRA 3,618 ▲ 0.14% BYMA 302.00 ▼ 0.66% TELECOM ARG 4,248 ▼ 1.56% ECOPETROL 15.93 ▼ 0.31% BANCOLOMBIA 79.43 ▼ 2.60% GRUPO AVAL 4.96 ▼ 1.49% CREDICORP 390.08 ▼ 2.04% SOUTHERN COPPER 175.95 ▼ 3.08% BUENAVENTURA 30.17 ▼ 1.76% MERCADOLIBRE 1,852 ▲ 0.46% NUBANK 13.90 ▲ 0.16% XP 16.71 ▼ 0.98% PAGSEGURO 9.23 ▲ 0.16% STONE 11.24 ▼ 0.35% GLOBANT 33.47 ▲ 4.64% TECNOGLASS 47.03 ▲ 2.97% GAP AIRPORT 223.83 ▼ 1.74% ASUR 281.31 ▼ 0.76% OMA AIRPORT 106.61 ▼ 1.20% AMX ADR 26.14 ▲ 0.10% FEMSA ADR 128.51 ▼ 0.20% CEMEX ADR 13.14 ▲ 0.54% PETROBRAS ADR 17.66 ▼ 1.15% VALE ADR 14.23 ▼ 3.00% ITAU ADR 8.34 ▼ 1.36% SANTANDER BR 5.31 ▼ 0.84% AMBEV ADR 3.07 ▲ 1.16% CSN 1.02 ▼ 1.46% GERDAU 4.73 ▼ 1.56% LATAM ADR 53.89 ▼ 1.79% BTC 64,262 ▼ 0.70% ETH 1,873 ▼ 2.28% SOL 76.00 ▼ 1.64% XRP 1.11 ▼ 0.64% BNB 576.19 ▼ 0.67% ADA 0.16 ▼ 1.27% DOGE 0.07 ▼ 1.05% AVAX 6.59 ▼ 1.58% LINK 8.39 ▼ 1.67% DOT 0.84 ▼ 0.29% LTC 45.13 ▲ 0.01% BCH 221.90 ▼ 0.56% TRX 0.32 ▼ 0.44% XLM 0.19 ▲ 1.31% HBAR 0.07 — 0.00% NEAR 2.07 ▲ 0.09% ATOM 1.53 ▼ 1.77% AAVE 91.97 ▼ 4.03% SELIC 14.25% EMBRAER 82.80 ▲ 0.55% EMBRAER ADR 64.93 ▲ 0.04% JBS 12.27 ▲ 1.36% JBS BDR 62.36 ▲ 1.51% MBRF3 15.23 ▼ 1.10% MBRFY 2.98 ▲ 3.83% INTER 5.55 ▼ 1.33% EGX 52,928 ▲ 0.70% USD/ZAR 16.42 ▲ 0.82% USD/NGN 1,378 ▼ 0.11% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY 162.48 ▲ 0.21% USD/CNY 6.7618 ▲ 0.06% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD 1.1438 ▼ 0.26% GBP/USD 1.3467 ▼ 0.52% SPX 7,554 ▼ 0.24% DJI 52,708 ▲ 0.09% NDX 29,131 ▼ 1.26% RUT 2,978 ▲ 0.05% TSX 35,381 ▼ 0.10% VIX 16.32 ▲ 4.15% USD/CAD 1.4050 ▲ 0.09% US10Y 4.5800 ▲ 0.77%
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Africa Western Africa

Voices of Dissent: Analyzing Nigeria’s Nationwide Protests

By · August 9, 2024 · 2 min read

Africa Intelligence

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(Analysis) In recent weeks, Nigeria, a prominent West African nation, has been engulfed in significant social unrest.

Demonstrations erupted across the country, driven by the public’s escalating frustrations over surging prices, unemployment, and perceived widespread corruption.

These protests, initially peaceful, quickly encountered severe repression, with law enforcement employing tear gas and live ammunition.

Reports from Amnesty International indicate that at least 21 individuals lost their lives during these clashes.

The public outcry for justice and demands for an independent investigation into police violence have intensified, reflecting deep national trauma.

Voices of Dissent: Analyzing Nigeria's Nationwide Protests
Voices of Dissent: Analyzing Nigeria’s Nationwide Protests. (Photo Internet reproduction)
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The root causes of this unrest can be traced to both longstanding issues and recent economic decisions made under President Bola Ahmed Tinubu’s administration.

Since assuming office on May 29, 2023, the removal of petrol subsidies and the flotation of the naira have significantly impacted the everyday lives of Nigerians.

This stability has vanished within a year of Tinubu’s administration; petrol now costs between N800 ($0.50) and N1,200 ($0.75) per liter and is scarcely available.

The repercussions extend to daily necessities. A 50-kg bag of rice, once priced at N45,000 ($28.20), now costs N85,000 ($53.20).

Similarly, a 12.5-kg gas cylinder that was N8,000 ($5.01) has doubled in price. The Nigerian currency has also weakened, plummeting from N650 to N1,570 against the US dollar.

Economic Reforms and Their Repercussions

The economic reforms, although aimed at stabilizing the economy, have instead precipitated inflation and increased living costs, pushing many into poverty.

The government’s response to the protests has been twofold: acknowledging the grievances while calling for calm and proposing dialogue and temporary financial relief.

However, these measures have largely been deemed inadequate by the populace, which continues to express their dissatisfaction through ongoing protests.

Comparatively, President Tinubu’s approach to economic management marks a departure from previous administrations.

These prior administrations generally sought broader consensus before implementing significant changes, such as subsidy removals.

This unilateral decision-making process has contributed to the perception of Tinubu‘s policies as draconian and disconnected from the populace’s needs.

Looking ahead, continuing these economic reforms is crucial for Nigeria’s long-term stability and growth.

However, the immediate repercussions have led to increased poverty and further unrest. The effectiveness of the government’s strategies to address these acute challenges remains pivotal.

The international community has condemned the violence and urged restraint from Nigerian authorities. It has emphasized the need for genuine reforms and a more inclusive approach to governance.

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