Business
2023 Election: Food, Drinks Boom At Polling Units
As voters awaited their turns to make choices on who to occupy the presidential seat of power in the nation for the next four years, smart entrepreneurs who sold food, drinks and water made brisk money in addition to casting of votes.
Cueing up under the hot sun to cast votes provided opportunities for others to make money as hunger and taste sets in.
A food saller at lwofe, Mrs Chidinma Obialor, told The Tide that the election had created opportunity for her to make money from her business.
Mrs. Obialor said people left their houses very early to take numbers at the polling unit and had no alternatives than to patronise her business to avoid fainting.
“No matter how scarce cash is, food is a priority for any human being, who wants to continue living. I know l will make a lot of sales today, so l prepared for it”, she said.
She also noted that water sold more than food, as those who did not have enough money to eat bought water to hold themselves till they were done with voting.
Another entrepreneur, Mrs Ozioma Uchendu, who sells the local zobo drink and water, said her efforts to prepare the zobo drink in addition to water paid off, adding that, “standing on a queue for a long time makes one’s throat to dry up and that is where l am needed.
“I have not seen this number of crowd since l started coming out here to vote. This year’s election pulled crowd but it is unfortunate that the BVAS in our station, Apaogodo Rumuepirikon, Unit 006, Rumueme (7A) refused to work till 1 pm.
She noted that more than 680 voters were disenfranchised, as the officials shot down by 7pm when the crowd have not voted.
Uchendu noted that her being there since morning would have been so painful but for the money she made on selling her drinks, “which is my consolation for spending the whole day here”.
She reiterated the need for Nigeria to grow up, adding that the citizens were thinking that INEC will get it right this time around but, “it is the same old story, no single change in the process instead, it is worse.
Another voter, who pleaded anonymity said the process was nothing but betrayal of trust.
“Nigerians want to continue the suffering, if not, there would have been a firm decision by all, not to be used to pervert the process. I wonder what will ever make me to come out from my house again to participate in the voting process”, he said.
By; Lilian Peters
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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