Opinion
Trade Fair And Discount Market At Xmas: Any Effect?
Trade fairs are important marketing in
strument in almost every part of the world. Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHACCIMA) has not failed to organise international trade fair annually for the people of Niger Delta region and beyond.
As the 10th edition of the trade fair gets underway simultaneously with Port Harcourt Discount Market this christmas season, our Chief Correspondent, Calista Ezeaku and Photographer, Ken Donatus went round the city to find out the effect of these markets on the populace.
lace.
Mr. Femi Dayo – Medical Practitioner
I want to start by saying that the idea of organizing trade fairs and discount markets is to offer customers a wide range of products at a reduced price and at the same time affording the participants or businessmen and women the opportunity to make more sales and more contacts for future businesses.
Unfortunately, I don’t think this year’s Port Harcourt trade fair can serve this purpose at all. Just look around the arena, how many companies or stands are here? They are very few and buyers are not even coming to patronise the few of us that are here. I took part in last year’s trade fair and the one before that and I can say that this year’s trade fair is nothing compared with the previous ones.
A lot of people complain that there is no money this year. A lot of people would have loved to come and patronise us but the money is not there in their pockets. All the same, we thank God. I want to advise the organisers to reach out to more organisations and companies next year so that we will have more products and that will attract more customers.
Miss Precious Amadi: – Student
This trade fair comes up once a year and if you come here and buy any product, you are sure of the durability. Their products are cheap and they last long. They have genuine products and they are cheaper than what you see at the regular markets. There is much discount on the products here than what you buy outside.
So in effect, trade fair and discount markets particularly at this time of the year helps people to buy more things with their little resources. There is much difference from buying outside and here. Trade fair enables people to save more money. For instance if I buy something here and want to sell it outside, I will make my own profit. Traders in regular markets do go to trade fair and discount markets to make bulk purchases for sell. They make a lot of money through that. It is definitely cheaper and better than going to Aba or Onitsha to buy goods. Even the cost of transportation and the risks on the road is reduced. You know we are in ‘Ember’ month and the rate of accidents and dangers on the road increase. But all that is taken care of when you purchase goods at discount market or trade fair.
I just want to plead that with the organisers to ensure that during the next edition, the goods will be cheaper. They should make things cheaper for us.
The organisers should also monitor the traders properly to make sure that what they say in their advertisement is what they have. Sometimes the product they advertise on the television is not what you see here. They should also do away with tickets to encourage most people to go to discount market and trade fair to make purchase.
Chinyere Amadi
The prices of goods are cheaper here than in the market. The only problem with this year’s trade fair is that we don’t have many companies participating. So I will advise the Port Harcourt Chamber of Commerce to do a more thorough work next time. They should invite more companies so that we will have variety of products to buy.
I think it is a very good thing that we have trade fair and discount market during this festive period as the reduced prices they offer will enable everybody particularly the poor to buy what they need for the Christmas and New Year Celebrations.
Kosisochukwu Obaze – LG Sales Representative
Actually, this is our first time of participating in Port Harcourt Trade Fair. We heard about it during the Lagos Trade Fair. Port Harcourt Trade Fair is nothing like Lagos Trade Fair at all. Lagos Trade Fair is well organised but this Port Harcourt Trade Fair is not organised at all, starting from the entrance. Instead of keeping well packaged and responsible people at the gate that will attend to our customers, we have touts at the gates. And these touts are discouraging customers from coming to patronise us. The way they talk to people that come to patronise us, the way to talk to visitors that come to know what is going on here is very embarrassing and discouraging. They are not polite at all.
We are not making any sales at all. We regret coming to this trade fair and you can see it is impacting negatively on our company because we are losing instead of gaining. This is not what we expected. The only positive effect I can talk about is that it gives us opportunity to create awareness about our new products. We are not making any sales. People are not coming and when they eventually come they will just look around and go. They will tell you “I’m coming back,” but they will not come back.
And it seems people down here do not know the importance of trade fair. When you come to trade fair, you will see some things that you have not seen before. You buy things at reduced prices. We sell our products cheaper during trade fairs. We also use the opportunity to explain to people the functions of our products. Some people have LG Smart TVs in their homes but they don’t know how to make use of that smart functions. You can actually use smart functions to browse and do some things on the internet but some people just use it as an ordinary TV. So that’s part of the things we do in trade fair – explaining to people how to use our products.
Mr. Aberepikima – Public Servant
What I wanted the Port Harcourt Chamber of Commerce to do is to do a thorough work, invite a lot of companies, so that we will see good things here. But it appears they did not cover a lot of grounds that is why traders did not turn up in their numbers with attractive goods. We want to see a lot of IT communications equipment.
It is a nice thing that we are experiencing trade fair and discount market here. But what I am trying to say is that they should invite more viable companies. For instance, I am interested in precious stone and all that. Two, three years ago, some participants came with these wares. But this time around, there is no such thing. That is why I am saying that the organisers did not do their works properly. If they come with things like precious stones here, people can pick them here instead of going to the north to buy them.
Mr. Taribo Chinedu – Business man
I have been participating in Port Harcourt trade fair for the past five years. There is a big difference between the previous ones and this year’s trade fair. Many companies are not here. The market is not moving. People are complaining there is no money, that civil servants have not been paid and all that. People are complaining that due to politics, there is no money in circulation. But I will encourage people to come to the trade air and discount market because things are cheaper here. It will enable them utilize their meager resources very well and also save some money.
But even though people are complaining of lack of money, if enough publicity about the trade fair was done by the organisers, we would have had more customers here. So, subsequent trade fairs should be well publicised, using the media and all forms of publicity.
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Opinion
Fuel Subsidy Removal and the Economic Implications for Nigerians
From all indications, Nigeria possesses enough human and material resources to become a true economic powerhouse in Africa. According to the National Population Commission (NPC, 2023), the country’s population has grown steadily within the last decade, presently standing at about 220 million people—mostly young, vibrant, and innovative. Nigeria also remains the sixth-largest oil producer in the world, with enormous reserves of gas, fertile agricultural land, and human capital.
Yet, despite this enormous potential, the country continues to grapple with underdevelopment, poverty, unemployment, and insecurity. Recent data from the National Bureau of Statistics (NBS, 2023) show that about 129 million Nigerians currently live below the poverty line. Most families can no longer afford basic necessities, even as the government continues to project a rosy economic picture.
The Subsidy Question
The removal of fuel subsidy in 2023 by President Bola Ahmed Tinubu has been one of the most controversial policy decisions in Nigeria’s recent history. According to the president, subsidy removal was designed to reduce fiscal burden, unify the foreign exchange rate, attract investment, curb inflation, and discourage excessive government borrowing.
While these objectives are theoretically sound, the reality for ordinary Nigerians has been severe hardship. Fuel prices more than tripled, transportation costs surged, and food inflation—already high—rose above 30% (NBS, 2023). The World Bank (2023) estimates that an additional 7.1 million Nigerians were pushed into poverty after subsidy removal.
A Critical Economic View
As an economist, I argue that the problem was not subsidy removal itself—which was inevitable—but the timing, sequencing, and structural gaps in Nigeria’s implementation.
- Structural Miscalculation
Nigeria’s four state-owned refineries remain nonfunctional. By removing subsidies without local refining capacity, the government exposed the economy to import-price pass-through effects—where global oil price shocks translate directly into domestic inflation. This was not just a timing issue but a fundamental policy miscalculation.
- Neglect of Social Safety Nets
Countries like Indonesia (2005) and Ghana (2005) removed subsidies successfully only after introducing cash transfers, transport vouchers, and food subsidies for the poor (World Bank, 2005). Nigeria, however, implemented removal abruptly, shifting the fiscal burden directly onto households without protection.
- Failure to Secure Food and Energy Alternatives
Fuel subsidy removal amplified existing weaknesses in agriculture and energy. Instead of sequencing reforms, government left Nigerians without refinery capacity, renewable energy alternatives, or mechanized agricultural productivity—all of which could have cushioned the shock.
Political and Public Concerns
Prominent leaders have echoed these concerns. Mr. Peter Obi, the Labour Party’s 2023 presidential candidate, described the subsidy removal as “good but wrongly timed.” Atiku Abubakar of the People’s Democratic Party also faulted the government’s hasty approach. Human rights activists like Obodoekwe Stive stressed that refineries should have been made functional first, to reduce the suffering of citizens.
This is not just political rhetoric—it reflects a widespread economic reality. When inflation climbs above 30%, when purchasing power collapses, and when households cannot meet basic needs, the promise of reform becomes overshadowed by social pain.
Broader Implications
The consequences of this policy are multidimensional:
- Inflationary Pressures – Food inflation above 30% has made nutrition unaffordable for many households.
- Rising Poverty – 7.1 million Nigerians have been newly pushed into poverty (World Bank, 2023).
- Middle-Class Erosion – Rising transport, rent, and healthcare costs are squeezing household incomes.
- Debt Concerns – Despite promises, government borrowing has continued, raising sustainability questions.
- Public Distrust – When government promises savings but citizens feel only pain, trust in leadership erodes.
In effect, subsidy removal without structural readiness has widened inequality and eroded social stability.
Missed Opportunities
Nigeria’s leaders had the chance to approach subsidy removal differently:
- Refinery Rehabilitation – Ensuring local refining to reduce exposure to global oil price shocks.
- Renewable Energy Investment – Diversifying energy through solar, hydro, and wind to reduce reliance on imported petroleum.
- Agricultural Productivity – Mechanization, irrigation, and smallholder financing could have boosted food supply and stabilized prices.
- Social Safety Nets – Conditional cash transfers, food vouchers, and transport subsidies could have protected the most vulnerable.
Instead, reform came abruptly, leaving citizens to absorb all the pain while waiting for theoretical long-term benefits.
Conclusion: Reform With a Human Face
Fuel subsidy removal was inevitable, but Nigeria’s approach has worsened hardship for millions. True reform must go beyond fiscal savings to protect citizens.
Economic policy is not judged only by its efficiency but by its humanity. A well-sequenced reform could have balanced fiscal responsibility with equity, ensuring that ordinary Nigerians were not crushed under the weight of sudden change.
Nigeria has the resources, population, and resilience to lead Africa’s economy. But leadership requires foresight. It requires policies that are inclusive, humane, and strategically sequenced.
Reform without equity is displacement of poverty, not development. If Nigeria truly seeks progress, its policies must wear a human face.
References
- National Bureau of Statistics (NBS). (2023). Poverty and Inequality Report. Abuja.
- National Population Commission (NPC). (2023). Population Estimates. Abuja.
- World Bank. (2023). Nigeria Development Update. Washington, DC.
- World Bank. (2005). Fuel Subsidy Reforms: Lessons from Indonesia and Ghana. Washington, DC.
- OPEC. (2023). Annual Statistical Bulletin. Vienna.
By: Amarachi Amaugo
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