Tuesday, 13 December 2016

Recession: Nigerian traders, small businesses lament impact of economic recession.

Business owners and traders at some of the major markets in Ilorin, the Kwara State capital, have complained over poor sales.

A survey by PREMIUM TIMES revealed that the poor sales came as part of the ripple effects of the economic recession plaguing the nation.

The traders lamented the impact of the poor sales and expressed hope that things would improve once the economy is normalised.

Shade Oduola, a dried fish seller at Yoruba Road market who spoke with PREMIUM TIMES, explained that there is no money in circulation and it affects the consumption pattern of customers. She maintained that it was far worse than what they experienced last year.

“Sales and rate of turnover have been very poor. Many customers do not have money, while traders have been turned into bench warmers in the market. Sales have never been this terrible, quite unlike what we experienced last year.”

When probed further, she lamented the increase in the cost of dried fish, saying it is one of the reasons customers don’t patronize her any longer:
“As at October last year, dried fish that sold for N18,000 now goes for between N26,000 and N28,500, even directly from the market. Of course, the ones we sold at the rate of N500 or N650
now sells for N900 or 1,000 and our customers are complaining.”

When PREMIUM TIMES visited the stall of Hajia Adijat, a butcher at Unity market, she lamented the poor state of the economy, calling on the government to quickly intervene because the people are suffering.


Full story at Premium Times NG.


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