Business
Yuletide: Traders Lament Poor Sales In PH
With Christmas and
the New Year fast approaching, traders at the various markets in Port Harcourt are lamenting over poor sales.
The traders in a chat with The Tide said the low sales were as a result of the financial situation in the country and in the state, but expressed optimism that there would be improvement soon
According to them, government should try to pay their workers early enough so that the they would in-turn make early purchases against Christmas and the New year.
Mr. Francis Olunwa, who deals on children’s wears said, “the market is dull for now as we are expecting customers to come and purchase things for their children for the season. But I know they will come when it’s due time.”
Olunwa noted that the poor turn out of customers could be blamed on the dwindling economic predicaments in the country and called on the government to improve the situation.
Another trader, Chief Nathaniel Agbo also lamented the poor sales but said it was too early for some people to do their shopping for Christmas and New Year, although it was better to do so on time. Agbo, who sells wrappers and other native wears disclosed that people purchased their Christmas wears early last year, but could not imagine what was happening this year.
A food stuff dealer, Mrs Florence Achor also decried the poor sales and expressed hope that customers would soon come when government pays workers salaries.
“I know that gradually people will come and buy things for their Christmas, that is why I also buy more goods to stock my store,” she said.
Also, Mrs Ngozi Fubara, a petty trader expressed optimism that from next week, people would flood the market and purchase things for the season, adding that traders were yet to increase the prices of their goods
Collins Barasimeye
“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.