South-East region may recover over N4.6trn annually after sit-at-home suspension

THE South-East region could save more than N4.6 trillion annually from the suspension of the Monday sit-at-home exercises, according to an investigation carried out in 2024 by the International Centre for Investigateve Reporting (ICIR).

The investigation, which was conducted by current Economy Post Managing Editor, Mr Odinaka Anudu, with support from the ICIR, shows that South-East region lost trillions of naira from regular Monday sit-at-home orders by the Indigenous People of Biafra (IPOB).

Now, IPOB has ordered the total cancellation of the exercise across the South-East, with effect from February 9, 2026. IPOB spokesperson, Mr Emma Powerful, who had last week disagreed with the Anambra State government’s sit-at-home suspension, made a U-turn in a press statement on Sunday. “The IPOB, under the supreme leadership of Nnamdi Kanu, hereby announces to the entire world that the Monday sit-at-home across the South-East is officially and permanently cancelled with effect from tomorrow, Monday, February 9, 2026,” he said.

“This directive comes directly from Onyendu Mazi Nnamdi Kanu himself, who has once again staked everything on the line to ensure that our children return to school every Monday and that our people go about their lawful businesses without fear, intimidation or molestation.”

The investigation

The data investigation revealed that micro businesses across the five South-East states lost N5.375 trillion between August 9, 2021 and December 19, 2022 after 71 business Mondays were wiped out by enforced shutdowns.

READ ALSO: Sit-at-home: How South-East Nigeria lost N5.4trn in 15 months

The report estimated that every year the sit-at-home policy remained, the region forfeited N4.618 trillion in potential revenue — a figure that underscored the scale of economic damage inflicted on one of Nigeria’s most commercially vibrant zones.

The sit-at-home order was first introduced by IPOB on July 30, 2021 as part of its agitation campaign. Although the group officially suspended the order in January 2022, the practice persisted in many communities, enforced by non-state actors, creating an atmosphere of fear and economic paralysis.

With trading activities now slowly returning in major cities like Onitsha, and other parts of the region on Mondays, analysts say the region could reclaim trillions in lost productivity if the shutdowns fully end.

Businesses at the heart of the losses

ICIR’s investigation focused on 110 nano and micro businesses – 22 from each South-East state – spanning trade, agriculture and small services. Each business disclosed its average Monday revenue before the shutdowns. These figures were then extrapolated using data from the National Bureau of Statistics (NBS) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

The survey classified Nigerian businesses into nano, micro, small and medium enterprises. The study concentrated on nano and micro firms, which account for 96.9 percent (38.4 million) of Nigeria’s 39.6 million MSMEs.

These small operators, mostly informal traders, artisans and service providers, bore the brunt of the shutdowns, with many forced into debt, layoffs or permanent closure. It was found that they lost N4.6 trillion annually.

President of the Leather Product Manufacturers Association (LEPMAS), which covers Ariaria Market in Aba, Mazi Okechukwu Williams, said continuous shutdowns destroyed productivity.

READ ALSO: Who is richest man in South-East Nigeria and what’s source of his wealth?

Similarly, President of the Amalgamated Markets and Traders Association in Imo State, Chief Ezeanoche Emmanuel, had pleaded for a permanent end to the practice.

“It has brought economic life in the entire South-East to its knees. We can only appeal to those behind it to stop.”

Now, with its end, it is believed that the economic life of the region will return. “We expect that the loss will stop. We have consistently advocated that the sit-at-home is a wasted efforts, which did neither the South-East nor the political leadership in Nigeria any good. We have wasted our Mondays for over 4 years now. No one knew who was enforcing it, yet everybody obeyed due to fear,” said an emerging markets analyst, Mr Ike Ibeabuchi.

“Now that it is over, let’s hope the region will recover from many years of Monday inactivity. It didn’t make sense that while other regions were having board meetings and producing results on Mondays, the South-East was sitting at home. It was an opportunity missed.”