Lagos Island Traders Lament Poor Sales

There has been steady de­cline in global economy since 2009 till date. This does not in any way exempt Ni­geria as a nation, not even with the less attraction of the nation’s crude oil which is the major source of income.

As a matter of fact, the Central Bank Of Nigeria had earlier in the year predicted in its last Mon­etary Policy Committee Commu­niqué that the nation might slide into another recession in 2016 if urgent and proactive steps are not quickly taken.

If this is coming from the high­est economic echelon of govern­ment in Nigeria, then, it calls for concern from all.

This trendy and unabated global economic recession in the economy has affected virtually every facet of lives of the average Nigerians.

For instance, organisations, states and even some Federal Gov­ernment agencies owe members of their staff several months of salaries.

Contractors have vacated vari­ous sites because mobilisation funds have been withheld by vari­ous government agencies.

The least of this repulsive tales is indeed endless as aggregate of the aforementioned has perme­ated and affected every fabric of the nation’s economy.

Broad Street Diary, BSD, went out to sample the views of some business owners on Lagos Island regarding the issue coupled with their experience about the gener­al market situation. This is what they have to say;

Mr. Friday Barnabas who sells ladies wares stated that sales were no longer what it used to be.

His words: “The business cli­mate is no longer encouraging due to economic downturn in the country.

“For instance, staff salaries have not been paid for months, what happened to the abandoned Lagos Badagry express way? The project is now moving at snail speed probably because the con­tractors are no longer mobilized appropriately hence, they now do skeletal work on the project site.

“Do you know how many work­ers are on their pay rolls that have now been affected? Is it not when people have regular sources of income that they remember to buy clothes or other things they needed?

‘’Government should as a mat­ter of urgency, revamp the ailing economy so that, there will be enough money in circulation for our customers to spend,’’ said Barnabas.

He, however, disagreed with the position of some of our re­spondents that sales were dull due to children’s resumption back to school.

“Let me tell you that money is not in circulation as it ought to be, hence, this wrong notion among some people that, buying clothes will have to be scarified for pay­ment of school fees.

“When you have regular source of income, you can comfortably embark on payment of your chil­dren’s school fees at the same time buying clothes for them”.

Another respondent, Mr. Peter Ogbonna, a transporter on Lagos Island corroborated this by say­ing;

“The economic situation in the country is so bad that it has forced even many unemployed university graduates to the road as commercial motor transport­ers.

He, however, called on the gov­ernment to urgently put mecha­nism in place to rescue the na­tion’s economy.



Source: National Mirror Nigeria

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