Business
Street Traders Hail RSG For Extension Of Quit Notice
Some street traders in Port Harcourt, the Rivers State capital have commended the state government for extending the April 11, 2018 deadline given them to vacate the streets and major roads in the city.
A mobile street trader, Magnus Abak thanked the governor for heeding their pleas, describing Governor Nyesom Wike as a kind man and prayed God to preserve his life.
Another trader on Aggrey Road, who claims to be the Public Relations Officer of the Union of Traders along that axis of town, Roseline Obeta, in her response also hailed the move by the governor to extend the deadline to vacate the roads.
Obeta, however, stated that it was not enough to extend deadline when no alternatives have been provided.
According to her, “seven days are not enough, where can we get market stalls or shops within seven days even when we do find the shops, what about the money to pay for such shops and stalls?”
She appealed to the government to give them until the completion of the second phase of the ongoing construction of the Rumuwoji, Mile I market.
Chairperson of the Mile 3 Market Women Association, Ndidi Orlu, however, frowned against the extension, saying that it would not make any difference to the street traders.
Orlu noted that there are many vacant stalls in the major markets in Port Harcourt, but these street traders preferred to display their wares in the open streets to avoid paying taxes and other levies accruable to the state.
Additionally, she said most of the street traders are non-indigenes who would not want to contribute to the development of the state stressing, “they do not want to pay levies like sanitation levies to the state, yet they contribute hugely to the environmental degradation and huge refuse littering the street of Port Harcourt.”
The state government had through the state Commissioner for Information and Communications, Barr Emma Okah announced after the state Executive Council Meeting, Wednesday, that the council had approved the extension of the vacate-the-streets deadline which elapsed on Wednesday.
Okah, while briefing newsmen after the State Executive Council meeting, noted that the extension was as a result of pleas from the traders to give them more time.
The commissioner informed however, that approval has also been given for the recruitment of 2,000 young men that would work with the state government to stop illegal street trading in Port Harcourt and its environs.
Tonye Nria-Dappa
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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