Business
Christmas: PH Traders Predict Low Sales
Barely twenty four
days to Christmas, a cross-section of traders who were displaced last December at the Mile One market fire incident have expressed fear on their fortunes.
Some of the traders who are now selling beside the fenced burnt market who spoke to our correspondent said the chances of selling products like rice, beans, tomatoes amongst others in bags and cartons was a near impossibility.
According to Festus Onyinye, a rice dealer, the development has made it impossible for customers to request bags of rice in advance.
He said before the fire incident, the commodity was ordered in advance at least three to four months before Christmas day.
Onyinye, who said he was now retailing the commodity fears that he has not been able to break even ever since.
“After the fire incident, I used to measure in cups and paint containers.
“This method brings no gain because nobody places order in bags”, he lamented.
For Cletus Obiandu who sells vegetable oil and tin tomato, the incident has since reduced his stock.
He said before the fire incident, he used to sell his products in cartons.
While lamenting his predicament, he said the government should take action to enable them bounce back.
“Right now most of us have problems of where to put our fowls and other livestocks”, said Wenenda Amanwo, who sells Chicken beside the fenced market.
According to him, before now, he bought chicken in large quantity to enable him meet the demands of Christmas and New Year celebrations.
He said the government was seen not to care even as he added that the upcoming elections may have distracted government’s attention in the rebuilding of the market.
One of the hawkers, Mr Okon Ufots, who spoke to our correspondent opined that the government should remove the fence to enable the traders use the space for the period of the yuletide.
“Since the government is not yet ready to build the market let them remove the fence.
“They can close it again after Christmas and new year because the traders are suffering”, he said.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.