The Nation Newspaper

Tag: Traders

  • N500b cash for traders, farmers, artisans coming

    Over two million traders, farmers and artisans will receive N500 billion micro-credit to be managed by the Bank of Industry (BoI). It is tagged: N500 billion Social Protection Programme for 2016.

    Speaking yesterday, Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah said the ministry  will be rolling out programmes and initiatives focused on supporting micro, medium and small enterprises (MSMEs) with finance, infrastructure, technical support and training.

    He said the manufacturing sector currently contributes only about 10 per cent to the nation’s Gross Domestic Product (GDP), lamenting that it is lower than it is the lowest other emerging markets.

    He said the government is set to implement the Nigerian Industrial Revolution Plan (NIRP), launched by the previous government.

    “Our industrialisation ambition is hinged on the  NIRP launched by the previous government in 2014. It is now time to move that comprehensive document from plan to action. It is now our duty to implement that plan in light of current realities, taking into consideration the lessons learnt in the two years since it was unveiled.

    “We are focusing on identifying and supporting a select number of industrial sectors in which Nigeria has comparative advantage. We have seen success in our backward integration policies in the cement industry; and sugar is currently trying to replicate that success. In the Automotive and Cotton, Textile and Garment (CTG) industries, we are continuing discussions with players and stakeholders to see how we can better implement an industrial policy that creates jobs, profits and prosperity,” he said.

  • ‘Exchange rate affecting traders’

    The reality of the exchange rate has gradually dawned on the country’s shopping landscape.

    Traders at the popular Yaba and Oyingbo markets in Lagos are decrying  their low sales. They attribute the development to the high exchange rate of the American dollar to the naira, saying it is affecting their business. As at Wednesday, the US$1 sold for N345 in the parallel market.

    The fluctuating dollar price, traders said, is affecting the number of customers visiting the markets, adding that those who manage to visit do not buy anything. They complained that the items are more expensive these days. The effect of this is that traders “fight”over customers to sell their wares. Besides, they devise various strategy to woo customers.

    With poor sales, restocking has become a challenge for the traders, who lament that they had not been able to gather enough money from daily sales the way they use to.

    A trader, Mr. Badru Badamusi, said he should have travelled to Dubai to restock his shop like he does at the beginning of the year but he has been hindered by the increase in dollar rate.

    Similarly, a bicycle dealer who simply identified himself as Mr. Chinedu, regretted that the  situation has made him reduce the usual stock he takes.

    The Market leader of Yaba Market, Alhaja Oluwayomi Owolabi, said she would rather save her money in the bank till the exchange rate was lowered.

    The story is not different at the Oyingbo market where Oladapo Sunday, a trader told The Nation Shopping that his products have fixed prices and because they have also increased in price, consumers rather opt for cheaper products in its category.

     

  • New Oshodi market unsuitable, claim traders

    New Oshodi market unsuitable, claim traders

    Traders at Owonifari Electronic Market in Oshodi, Lagos, are still lamenting its’ demolition, 43 days after the exercise.

    Some of them told The Nation that the Isopakodowo Market allocated to them by the government is not good for their business.

    They said they could not operate there because they did not get shops on the ground floor.

    Many with heavy materials move to Arena Shopping Complex.

    Secretary to the Igbo Community of the market Chibuzo Shedrack said it is difficult for them to lift their heavy materials to the upper floor of the building.

    “After losing millions of naira to the demolished shops, some of us who try to raise money to continue our businesses found it difficult to cope. My goods, my cash, everything were in the demolished shop. As I speak, I have been taken back to square one. I lost about N40 million. You need to see the extent of what was lost in that market.

    “At the Arena market, things aren’t easy here. We are not allowed to take heavy duty machines here. It hasn’t been easy my brother,” Shedrack said.

    The market’s spokesman, Azomba Alphonsus, said he lost six shops at Owonifari market, adding that he had just stocked his shops before the demolition.

    The Isopakodowo Market does not match the demolished Owonifari market in terms of accessibility and convenience, he added.

    “For some of us that lost more than N50 million in the demolished market and are facing uncertainty in this new market, it is pathetic,” he said.

    Alphonsus implored Governor Akinwunmi Ambode to visit the market to appreciate their problem.

    Restating that the Isopakodowo Market was not built for them by the Babatunde Fashola administration, Alphonsus said: “When Fashola commissioned the Isopakodowo market on January 7, 2014, he said it was built for sawmillers, roadside traders and railway line traders. He also said he promised 50 Iyaloja 50 shops. That’s why they occupy the ground floor of the plaza. The upstairs doesn’t fit our kind of business, hence our earlier refusal to move to the place.”

    Lord Mayor of Igbo kingdom worldwide Leo Ezebuiro wondered why the government not wait for the traders to return from home after the Yuletide before demolishing the shops.

    Ezebuiro urged Ambode to compensate the traders.

  • Traders seek govt’s intervention on planned demolition of Aregbesola market

    Traders at the Rauf Aregbesola Market in Iyana-Ipaja, Lagos, have appealed to the government to intervene in their dispute with Alimosho Local Government Area.

    The council on Friday threatened to eject the traders to pave the way for market’s demolition in order to upgrade it.

    NAN reports that the Rauf Aregbesola Market is a bungalow structure market, created in 2004 with 110 shops.

    The traders told the News Agency of Nigeria (NAN) yesterday that it was the council’s second attempt to eject them from the market.

    According to the traders, in 2012, they were asked to submit their allocation papers for the market’s upgrade.

    They said the upgrade was suspended when their lawyer challenged the council after an advice from the Lagos State Ministry of Physical Planning and Urban Development.

    According to them, the Ministry of Physical Planning advised that the structures in the market be maintained as any attempt to raise the shops to high rise would affect the structural integrity of the entire market.

    Mr Isaac Ilesanmi, a trader in the market said: “We forwarded the Town Planning report, through our lawyer, to the Governor’s Office and copied the council and the upgrade was suspended.

    “But now, they have come back to take over the shops.”

    The traders queried the rationale of the local government for planning to take over the shops that were sold to them on owner-occupier terms at the first instance.

    “We bought these shops in 2004 at the price range of N300,000 for those located inside and N400, 000 for those facing the road.

    “We pay our yearly permit of N4, 100 as responsible citizens, abide by every rule governing the state and expect due consideration from government.

    “However, it is unfortunate that a government that we chose to represent us and oversee our welfare is working secretly to destroy our source of livelihood,” he said.

    Mrs Ayoola Aromolaran, another trader in the market, said: “We are not against the plan to upgrade the market, but what we are saying is that no trader was consulted about the project.

    “I feel this is wrong, we own the shops because we bought them from the state government in 2004, therefore, we should be engaged in issues that affect the market.

    “The purported committee that has been dealing with the council is not representing us; we did not elect nor nominate them to speak on our behalf.

    “They have no stake in Rauf Aregbesola Market; they do not own any shop nor sell in the market, so, they can never understand our plight or be our representatives in this issue.”

    Mr Moses Njoku, said the desperation with which the council was going about the market upgrade showed ulterior motives than the purported improvement of the market.

    “The council is trying to deceive us. We heard that current tenants will have to pay one million naira, while new tenants will pay two million naira to acquire the shops after the upgrade.

    “This is not fair considering the economic situation of the country and the fact that we are paying again for what we had previously bought.

    “Moreso, politics will be played during allocation of the shops; it will be man know man game.”

    Mr Lateef Abiodun, the Market Master for Alimosho Local Government, told NAN that the planned upgrade of the market was in line with the megacity plan of the State Government.

    Abiodun also serves as the Chairman, Nigeria Union of Local Government Employees (NULGE), Alimosho Branch.

    He said: “There’s going to be an upgrade, but we will not displace them, all the previous tenants will be put back in their rightful places.

    “We have had meetings with the committee members set up by the market on this issue. We do not intend to create untold hardship on them, but rather to protect them.

    “If they are resisting, what happened in Oshodi market may happen there, we are not saying we are the ones to do it.

    “Because, those people (Oshodi) have been on it for quite a long time and the state government just took action, we do not want that to happen here.”

  • Council resolves traders, road union feud

    Mushin Local Government Executive Secretary Babajide Bello has brokered peace between Ago-Ishaga Market traders and transport workers.

    Bello, who invited the parties to a peace meeting, said nothing could be achieved in an atmosphere of rancour and disharmony.

    Better communication and understanding, he said, should be sought always whenever there is misunderstanding.

    The Iyaloja, Alhaja Abibatu Alashe, accused the transport workers headed by Sina Oloko and Sule Adio of planning to demolish part of the market and extending their own area without permission. She implored the executive secretary to stop them.

    Oloko refuted the claim, saying ongoing work in the market by the government may be responsible for its “physical changes”.

    Bello said his office should be briefed on any planned physical and developmental work in the market to avert crisis.

  • Lagos Marathon: Traders bemoan low sales

    Traders who had stormed the starting point of the Access Bank Lagos City Marathon at the Teslim Balogun Stadium, Surulere on Saturday, said  sales were not encouraging.

    They told the News Agency of Nigeria (NAN) that in spite of the large turnout of athletes for the event, they were disappointed with the poor patronage.

    NAN reports that the traders had displayed their wares around the point and along the routes in anticipation of making brisk business.

    Abigail Akintayo, a food vendor, said she prepared a huge quantity of food, anticipating that she would make good sales.

    “The patronage I got was not too encouraging owing to the kind of event and the crowd that turned out for the marathon.

    “I hope other people coming to the stadium for other activities will patronise my food so that I can sell my remaining food,’’ she said.

  • Govt allays traders’ fear over Ogunpa market

    Govt allays traders’ fear over Ogunpa market

    Two decades after it was destroyed by flood, the Ogunpa market in Ibadan, Oyo State is to get a facelift.  It is being reconstructed by the government through public-private partnership (PPP) with Kamiluiz Nigeria Limited. On completion, it is expected to accommodate over 1,000 shops, as well as modern facilities, such as an automated motor park and spaces for food vendors.

    According to Mr. Segun Abolarinwa, who represented Governor Abiola Ajimobi, the government decided to adopt the PPP model for the development of the market in the face of current economic realities. The project, which is said to be in line with the vision of the governor to transform the state, is to be completed before the end of the year.

    The government’s resolve to transform the market through PPP generated tension between the traders and other stakeholders. Some of the traders expressed fears that since the project would be executed by a private developer, they might not be able to afford the cost of the shops, which they said might be too exorbitant.

    Besides, they are worried that the original traders ma y be shut out on completion of the market with the shops allocated to  the affluent.

    These fears were, however, assuaged at a meeting attended by representatives of the government; the Chairman, Oyo State Market Advisory Council, Alhaji Dauda Oladapo; his deputy, Mrs. Abake Lawal and other market leaders.

    “I want to assure the stakeholders that no underhand dealings will be permitted in the course of the project and in the allocation of the shops. No individual will be allowed to acquire multiple shops to the detriment of others,” he explained.

    Abolarinwa said the Market Advisory Council and the executive members of the Ogunpa Market Traders Association would be involved in the allocation of the shops upon completion. He also assured that upon completion, the state government would employ facility managers for the market.

    The Managing Director of the firm handling the project, Alhaji Kamil Orotoye, said the project would last for six months, urging marketers to be patient. He said on completion, it would improve the socio-economic status of the state.

    “The government is going to employ people who will be working in the complex. It will add to the state Internally Generated Revenue (IGR). We are going to build police station for safety of our people, sick bay (clinic), fire station, toilet and other amenities for the usefulness of our people. Everything will be present in the complex because it is designed to be of international standard. We will complete it within six months and I am assuring you that it will be offered to the occupants and not politicians,” he assured.

    Ogunpa market before now was a major concern to government and the people of the state because of the challenges facing the market. Such challenges included security, defecating in open places which cause diseases, having more than 12 to 15 shops by one individual while others are struggling to own one, selling on the roadside, and disrupting free flow of traffic in that axis.

  • Calabar traders protest extortion and harassment

    Calabar traders protest extortion and harassment

    Commercial activities in Calabar the Cross River State were slowed down at the popular Etim Edem Motor Park as traders locked their shops in protest against the management of the park for alleged incessant battering, extortion and harassments.

    The traders under the umbrella, Etim Edem Traders Welfare Association, led by their Chairman, Comrade Etim Akpan took to the streets adjoining the market to call on the Calabar South Local Government Council Chairman, Mrs Majorie Asuquo to sack of the management of the park led by Michael Mesembe.

    The traders who said they have endured the constant humiliation of their executive members by the park managers for long without complaining, erupted into protest after the secretary of their association, Chukwu Emeka Eke was allegedly battered to a point of coma and one of his eyes injured.

    The traders insisted that either the park management is replaced or they would continue in their protest to persuade the relevant authorities to act.

    “It is better we are managed by armed robbers than by the present management where our members are daily subjected to battering, extortion, harassments and verbal assault by Imoh and his boys. We will continue to protest peacefully until the authorities that put him there acts on our demand,” Comrade Akpan said.

    The Chairman alleged that they are asked to pay sums ranging between N20, 000 to N30, 000 by the management of the park to even fix their own stalls.

    Akpan said, “The matter that resulted in the battering of Chukwu Emeka to a point of coma follows the demand from management of the park that every trader who displays goods outside his stall should pay the sum of N20,000 in addition to the amount paid for each stall and when one of the traders insisted on not paying his goods were destroyed by Imoh, the operations officer of the park and his boys  which resulted in a scuffle and when the secretary went to find out what was wrong, he was attacked.

    “Imoh brought out his chest and started with me and rained all sorts of abuses on me and there is nobody that can contend with him and when the secretary came, he did not join issues with them but simply asked what the matter was and Imoh and five of his boys started to assault  him  and threw him on the concrete floor and continued to beat him until  the liquid in his eyes came out”.

    The traders who took the protest to the nearby Atakpa Police Station were addressed the Divisional Police Officer for the Division, DSP Rasheed, and the Chairman of Calabar South Local Government Council, Majorie Asuquo.

    The DPO said Imoh and his colleagues who battered the trader would be charged to court.

    The council chairman said it was unfortunate that the park management which was instituted to take charge of motor vehicles in the park had over stepped it bounds by meddling into the activities of traders just to extort money from them.

    “Each time I wanted anything from the traders I always write to them through their association and have not sent anybody to terrorise or extort money from them and this must stop and I am going to ensure that drastic changes are effected in the market immediately to put pay to ugly situations like this,” she said.

    She appealed to the traders to resume normal business activities while she undertakes the process of carrying out reforms in the market.

     

  • Traders accuse LG distributor of fraud

    Traders accuse LG distributor of fraud

    There is a Lagos distributor of LG products that collected money from some traders?

    The traders are accusing the distributor of defrauding them.

    They alleged that the firm closed its store without delivering their goods.

    The store introduced “pay little by little” offer to traders last October.

    It was gathered that some of the traders got their appliances but others didn’t.

    A trader, Mrs Adetoun Abiolu, said she paid N53,000 out of N60,000 for a freezer, adding: “When they came last October, many of us joined because we saw that it was real when we got to their office. We paid whenever we had money. At times I paid N2000 sometimes N5000. We were issued receipts. I took my N7000 balance there last week but I was asked to return this week. Last December, I was told the price may change because the price of dollars had increased; I agreed. I am just shocked the store was closed on January 18. I haven’t seen any of the workers. I also heard the boss is not around.

    “The painful part is that I introduced eight people and their money is times two of my money. They have been asking what happened and I am tired of explaining to them.”

    Another trader, Chinedu Ogboji, said he paid N56,000 instead of N51,000, the initial price.

    Chinedu said when he first went to the store to pay the balance, he was asked to come back as the product wasn’t available.

    “After I paid N56,000, they asked me to come back last December 24 and when I did, they had closed for the year. When I got there on Monday January 11, I was told the price of the television is now N70,000 and that if I couldn’t afford it, I could pick a Samsung Television which I agreed. I don’t have the television, my money is gone and the workers are nowhere to be found,” he said.

    Mrs. Olubunmi Fashina, who wanted to buy a washing machine worth N65,000, said she lost N42,000.

    She said majority of the traders took advantage of the offer when the first set that started got their products.

    “We are not happy about the situation. I even heard the workers are being owed for months and their boss cannot be found. Even when I requested their boss’ mobile line from one of the workers, he said she never disclosed her line to any of her staff. As if she saw this coming. What did they do with our hard earned money? It is painful. My balance is N13,000 but what of those who lost N250,000 to them. An old woman almost became unconscious on seeing the store locked last Monday. I remember the worker that registered me. He kept coming to my shop before I decided to join. I have been to their head office and I have not gotten a positive reply,” she said.

    A trader, Oluwafemi Adebamigbe, who deals in jewellery, said it was the week after he collected his product that the shop was shut.

    He said: “I am happy I didn’t fall a victim but it is unfair. Most of us can’t afford to buy what we need once; that is why we went for the offer and now we have been cheated. I pray they return soon so they can refund our money.”

    At the Ogba, Lagos office of Fouani Ltd, the sole distributor of LG Electronics in Nigeria, the sales representative, who simply identified herself as Omobolanle, disagreed that the distributor has absconded with the traders’ money.

  • N60b soft loans coming for one million traders

    N60b soft loans coming for one million traders

    No fewer than one million traders and artisans are billed to get a soft loan of N60,000 each this year as part of the safety nets for the poor in Budget 2016, it was learnt at the weekend.

    An insight into the budget estimates, which the Senate is still dilly dallying over, revealed that this plan will cost an estimated N60 billion.

    Yesterday, Senior Special assistant to President Muhammadu Buhari on National Assembly matters Senator Ita Enang confirmed that the president had written a letter to the National Assembly on the budget which is expected to be read by the presiding officers during plenary tomorrow.

    A senior federal government official at the weekend described the controversy in the Senate regarding two versions of the proposed budget as a “distraction and a storm in a tea-cup.”

    The official added that the budget estimates are a bunch of proposals which would only become sacrosanct relatively after becoming an appropriation. “To now have all this hue and cry on alleged versions; and switched copies is not just a distraction, but a storm in a tea-cup.”

    Ready for the implementation of the proposal among others in the budget, the official confirmed the appointment of Mrs Maryam Uwais as a Special Adviser to the President working the Office of the Vice President, who will be in charge the programme.

    There are five other social investment plans of the Buhari administration already provided for in the budget with about N500 billion to be spent, which is nine per cent of the total budget.

    These schemes are:

    • The teach Nigeria scheme where the Federal Government plans to directly hire 500,000 graduates as teachers. Under the scheme government will hire, train and deploy the graduates to help beef up the quality of teachers in public schools across the nation. The teachers will be picked on state by state basis.
    • The youth employment agency where between 300,000 to 500,000 non graduate youths will be taken through in skill acquisition programmes and vocational training, for which they will be paid stipends during the training, with the plan that they would then become self-productive members of their communities. The selection of the youths for this scheme will also be on state by state basis.
    • The conditional cash transfer where government will pay directly N5,000 per month to one million extremely poor Nigerians on the condition that they have children enrolled in school and are immunised.
    • The homegrown school feeding in which the federal government will serve one meal a day to primary school pupils and in many cases expected to be done in collaboration with state governments.

    This programme has international support from the Imperial College of the United Kingdom among other international agencies.

    • The free education for science, technology and mathematics students where tuition will be paid for about 100,000 STEM students in tertiary institutions in the country. The scheme is expected to cost government about N5 billion.