Tag: traders

‘We Will Not Abandon You’: Aregbesola Advises Nigerian Traders In Ghana To Endure Challenges

Minister of Interior, Mr Rauf Aregbesola (File Photo)

 

The Minister of Interior, Rauf Aregbesola, has called on Nigerian Traders who are facing tough times in Ghana not to leave the country, but rather to be patient with the Government of Nigeria as it continues to engage the Ghanaian Authorities and other relevant stakeholders with a view to addressing their challenges.

The Minister gave the advice on Tuesday in his office in Abuja when he received a delegation of the Nigerian Traders Association in Ghana, an Affiliate of the Nigerian Traders Association, led by its National President, Dr (Barr) Ken Ukaoha.

Aregbesola assured that the President Muhammadu Buhari-led administration will continue to engage Ghanaian Authorities to ensure that the challenges faced by Nigerians are amicably resolved.

He said that the Nigerian Government is pained by the condition under which Nigerian Traders in Ghana have been made to operate in recent times and thus, assured that government will not abandon them.

“Your pains cannot endure, we will not abandon you, no stone is being left unturned to remove the pains you are passing through in Ghana,” Aregbesola assured.

The Minister stressed that the Nigerian Government is not resting on the matter but that it is doing everything possible to make life better for its citizens in Ghana and other countries of the world.

He urged the traders not to leave Ghana but rather contribute their own quota to the political development of that country, as the Nigerian Government will continue to engage relevant authorities to arrest the situation.

Earlier, the National President, Association of Nigerian Traders, Dr (Barr) Ken Ukaoha expressed what he referred to as the agony, humiliation and torture of Nigerian Traders in Ghana, emanating from the Ghanaian Government’s decision to raise the capital base of any foreign trader doing business in the country to $1million, and the subsequent locking up of many Nigerian traders’ shops since 2019.

He added that in spite of various interventions by representatives of the Nigerian Government, nothing significant had been done by the Ghanaian Government to reverse the trend.

Ukaoha who further expressed the frustrations of many Nigerians, who are doing business in Ghana, noted that about 753 citizens of Nigeria are ready to leave the country.

“If we react proportionately to the way we have been treated in Ghana, it might lead to a serious crisis,” he stressed.

Dr. Ukaoha, therefore, appealed to the Federal Government and ECOWAS to take urgent steps against the Ghanaian Government to assuage the sufferings of the Nigerian Traders in that country.

Asian Markets Mostly Up As Focus Turns To US Jobs Data

A woman walks past a screen showing information and the index of the Taipei Stock Exchange on July 24, 2020. Sam Yeh / AFP
A woman walks past a screen showing information and the index of the Taipei Stock Exchange on July 24, 2020. Sam Yeh / AFP

 

Asian markets mostly rose Tuesday following another healthy month for global equities, fuelled by expectations of cheap borrowing for years to come, while traders were turning their attention to the release of US jobs data later in the week.

While the Nasdaq powered to yet another record as tech firms are fired up by people being forced to stay home by the virus, the Dow and S&P 500 dipped, though both enjoyed their best August in more than 30 years.

But signs of a new pick-up in infections around the world and a lack of any movement on a new US stimulus package for the world’s top economy were keeping buying sentiment at bay.

“Following such a strong month and such a strong recovery since we saw the trough back in March, we do think we could see some turbulence over the next few months,” Tracie McMillion, at Wells Fargo Investment Institute, told Bloomberg Television.

“We’re entering a seasonally weaker period, we’ve got elections on the horizon, and also we’re entering the fall and there could be some coronavirus escalation that also could start to worry market participants.”

Shanghai climbed 0.4 percent, with helping coming from news that a survey of Chinese manufacturing had shown a pick-up in activity, a day after an official reading showed a slight dip in the sector.

Hong Kong and Tokyo were flat, while Mumbai added 1.3 percent, a day after data showed the Indian economy shrank a historic 23.9 percent in April-June, which was worse than expected.

Seoul, Taipei, Jakarta and Bangkok were well in positive territory but Sydney, Manila and Wellington were more than one percent lower, while Singapore also dropped.

In early trade, London dipped as traders returned from a long weekend, though Paris and Frankfurt rose.

The key event this week is the release Friday of closely watched US non-farm payrolls figures, which will provide the latest snapshot of an economy that has been struggling in recent weeks from the reimposition of some virus containment measures owing to fresh flare-ups across the country. Updates on the factory and services sectors are also due this week.

Still, the weakness has not given US lawmakers any urgency to push through a new rescue deal, with Republicans and Democrats still at loggerheads.

Treasury Secretary Steven Mnuchin said Republicans will soon unveil a new spending bill “for kids and jobs”, which is likely to come in at around $1 trillion, less than half that offered by Democrats.

He said Democratic leaders in the House and Senate “just don’t want to negotiate in good faith”, and with senators on recess until September 8, there is little chance of anything being agreed soon.

“Not only is ambivalence hurting the nascent economic recovery, more importantly, it keeps the neediest checking their mailboxes regularly while praying a second stimulus check miraculously arrived,” said Stephen Innes at AxiCorp.

“We are talking about people needing to buy groceries, not luxury items here. It’s time for Congress to get off their derrieres and put something actionable together.”

The dollar was at its weakest level against the euro since May 2018 while sterling was around nine-month highs. Oil prices rallied more than one percent, with the commodity helped by signs of a pick-up in US demand.

– Key figures around 0810 GMT –

Tokyo – Nikkei 225: FLAT at 23,138.07 (close)

Hong Kong – Hang Seng: FLAT at 25,184.85 (close)

Shanghai – Composite: UP 0.4 percent at 3,410.61 (close)

London – FTSE 100: DOWN 0.1 percent at 5,959.29

Euro/dollar: UP at $1.1974 from $1.1935 at 2045 GMT

Dollar/yen: DOWN at 105.75 yen from 105.89 yen

Pound/dollar: UP at $1.3406 from $1.3370

Euro/pound: UP at 89.32 pence from 89.26 pence

West Texas Intermediate: UP 1.1 percent at $43.08 per barrel

Brent North Sea crude: UP 1.2 percent at $45.80 per barrel

New York – Dow: DOWN 0.8 percent at 28,430.05 (close)

AFP

Armed Men Invade, Demolish Fruit Market In Ketu, Lagos

 

Traders at the popular fruit market in the Ketu area of Lagos State, are counting their losses after armed men allegedly invaded and demolished the market in the early hours of Saturday.

 

 

The traders allege that the operation was carried out after sporadic shooting by some policemen that accompanied the demolition team.

 

 

Some of the traders who spoke to Channels Television claimed that there have been several attempts in the past, by local authorities to take over the market.

 

 

Details later…

Osun Traders Protest Over Measurement Scale

Osun Traders Protest Over Measurement ScaleMarket women in Osun State have protested against the enforcement of the measurement scale introduced by the state government.

The aggrieved market women, especially those dealing in grains and measurable products, took to the State Government Secretariat in Abere on Thursday to make their grievances known.

They frowned at what they described as ‘imposition of Osunwon Omoluabi measurement scale’, vowing to resist any attempt by the government to compel them into using the scale.

The special adviser to the governor on commerce, cooperatives and empowerment, Mr Femi Popoola, who received the traders, explained that the decision was aimed at ensuring uniformity in sales.

Although he admitted that government needed to enlighten the traders, he said there was no going back on the decision to use the weighing scale in all markets across the state.

A task force and compliance team from the state Ministry of Commerce, Cooperative and Empowerment had on Tuesday, thronged the markets to enforce the usage of the measurement scale.

The weighing scale was introduced about two years ago by Osun State Government to traders in the state.

Mushin Violence: Traders, Residents Seek For Lagos Govt. Intervention

Traders and residents of Idi-Oro area in Mushin, have asked the Lagos State Government to save them from hoodlums who have been terrorising the market and its environs.

This appeal is following days of mayhem unleashed by the hoodlums in the area, leaving properties worth millions of Naira damaged.

The traders said they would no longer allow them to overrun their area.

While some of the traders alleged the act was perpetrated by two factions’ youth invited to the area and their battle ground is the market street.

Berger Traders Rendered Helpless As Govt. Demolishes Shops

Traders and shop owners at the Berger retail market are counting their losses, following the demolition of the facility by the Lagos State Government.

When Channels Television crew visited the site of the demolition exercise on Wednesday, the traders were seen salvaging their wares from the shops.

Some of the traders were seen wearing dejected looks, as their goods were scattered around the road, or being conveyed away in trucks.

While most of them refused to speak to our correspondent, those who spoke off camera wondered where next to go, saying they were entirely helpless.

The Lagos State Government had designated the market as illegal, and the land on which it stood had allegedly been sold to private owners.

Oyo Students, Traders, Appeal To Labour To End Strike

Student groups, traders and artisans have joined others in appealing to the labour unions in Oyo State to end the ongoing strike for academic activities in public schools to resume.

A peace rally was organised by several artisan groups and student bodies in Ibadan, the Oyo State capital on Monday.

The aim of the protesters was to sue for continued peace, an end to the ongoing labour strike and garner support for the education policy of government.

Traders, artisans and students in their hundreds converged on the historic Mapo Hill and moved through major streets halting vehicular and human traffic in the process as they sang songs of peace and cooperation in the process.

The crowd moved around from Mapo and ended up at the secretariat where the Governor received them.

Oyo Students, Ajimobi
Governor Abiola Ajimobi addresses crowd of protesters at the state secretariat.

Some of the leaders of groups represented at the rally spoke on the need to eschew violence and appealed to labour to end the ongoing strike.

Addressing the mammoth crowd at the secretariat, the Governor Abiola Ajimobi applauded the peaceful rally and charged them to continue to educate the people about government’s policy especially on education, stating emphatically that no school is up for sale in Oyo State.

Oyo Students, Traders Protest
Protesters moved through major streets halting vehicular and human traffic in the process.

He charged those present to continue to educate the people and shun violence as the brigandage of yesteryear will not be allowed back into the state.

Gov. Ajimobi further appealed to labour to return to work to give room for further dialogue not only on the education policy but to also find ways of addressing the non-payment of salaries of workers.

Labour had held a similar rally on June 16 calling for a reversal of government’s intention to involve the private sector in public school administration in the state.

Joint Action Front Protests Against Fuel Price Increase

DPRThe organised Labour Union, traders, and artisans under the aegis of Joint Action Front trooped to the streets of Ibadan the Oyo State capital to register their anger and frustrations against the Buhari-led government for the increase in pump price of petrol.

The leaders of the protest say 145 Naira pump price is ridiculous and unacceptable to the masses who voted for a change believed to be geared at making lives better for them.

While speaking to journalists, the National Treasurer of ASUU, Dr. Ademola Aremu; the Chairman of ASUU University of Ibadan chapter, Dr. Ayodeji Omole and Prof. Segun Ajiboye condemned the move and urged the federal government to put in place an economic team with a clear mandate on how to lift Nigeria out of the current quagmire with minimal suffering on the people.

The peaceful protest began from the University of Ibadan main gate at Agbowo Ibadan and moved to the largest commodity market in Ibadan, where market women, traders and artisans joined the procession.

They were unanimous in their condemnation of the fuel price increase.

The market women also appealed to the federal government to rescind its decision before untold hardship is meted on the masses.

The group added that there is no going back from this new struggle until something gets done urgently to address what it described as an unfortunate and callous act.

Traders Criticise Planned Demolition Of Market In Abia

Ariaria International Market-Traders-AbiaTraders at the Ariaria International Market in Aba have raised alarm over the alleged planned demolition of the market by the Abia State government in southeast Nigeria.

The market men and women described the purported act as an exercise in futility and called on the government to focus on fixing the deplorable roads and upgrade the facility in the markets.

During a press briefing in Aba on Monday, the Chairman of the National Association of Nigerian Traders in the market, Mr Michael Anibogu, condemned the alleged plan, saying that the market was their only source of income and gratuity.

He maintained that the traders would resist any attempt by the committee set up by government to demolish their shops.

In his reaction, the Chairman of the Abia State Market Development Committee, Solomon Wigwe, clarified that the state government had no intention to demolish the market.

He, however, explained that some sections were marked for demolition.

According to him, the sections to be brought down were the illegal structures erected on the walk ways and drainage.

Wigwe said that the exercise would be carried out in phases and aimed to develop the existing markets to an enviable standard.

Ladipo Market Demolition: Leadership Recounts Experience, Counts Losses

Ladipo MarketTraders at the popular Bakassi spare parts in Ladipo market, Oshodi axis of Lagos State have lamented the demolition of the market.

This is coming after the traders’ shops were demolished over the weekend by persons believed to be officials of the Lagos State Ministry of Environment.

Recounting the experience, the market’s spokesman, Ezeigbo Nkire, described the act as ‘disheartening’ in the face of the current economic challenges.

“Two weeks ago, we discovered that the Ministry of Environment came to lock this market and after the locking this market, they put a seal.

“After two days, we went to the Ministry of Environment to find out what was the problem (and) they said that this place is very dirty and they need the people to go and do environmental sanitation there an after that, they will come and open the place,” he said.

The exercise allegedly carried out at night in which at least 4,000 traders were displaced, took them unawares and left behind trails of losses.

As at the time Channels Television crew visited the scene, most of the traders affected were short of words as they searched through the remains of their shops, attempting to salvage what was left.

Akwa Ibom Traders To Get Interest-Free Loans

Naira-akwa ibomTraders in Akwa Ibom State might heave a sigh of relief as the state government has promised to give interest free loans to traders.

This promise was made by Governor Udom Emmanuel when he met with the traders in Uyo, Akwa Ibom State capital.

About 1,000 traders would be benefiting from the interest- free loans provided by the state government to boost small and medium businesses.

The loan, according to Governor Emmanuel, is to help boost their businesses and also alleviate the suffering of the traders.