JUST IN: Business downturn in Anambra as price of goods soars under alleged obnoxious govt policy


Economic activities in Anambra State have allegedly been downturn following alleged obnoxious government policy of the All Progressives Congress (APC)<<<READ FULL ARTICLE>>>

This is even as sit -at- home, a sad thing that has left the Government, traditional rulers, others in doubt as to its continued observance in the state. has persisted and continued to drain the economy of Anambra and other states in the South East.

According to sources, the downturn said be allegedly a function of the obnoxious government policy of the ruling party at the centre, the APC and private sector who derive benefits from oil subsidy removal and foreign exchange, has hit hard on the citizens as it has assumed a dangerous and anti -man dimension like the sit-at-home in the Southeast.

Traders across the state lament the ever soaring price of goods and commodities in Anambra and other parts of the country, saying the sad development impacts negatively on their economic endeavours leading to low patronage and low but unsteady income.

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Sources said worst hit were civil servants whose salaries are fixed, casual workers and dependents who live on lean daily pittance.

Okafor Idimaogu, a grains dealer at Eke Ogbu Market near Awka told our correspondent that a bag of rice now cost N67,000 as against N65,000 last weekend. He said one painter container of red fried cassava flour (red garri) cost N2,200 while white garri is sold for N2000.

At Nkwo Nnewi, the price of commodities have witnessed upward price increase leading to closure of some businesses in the market, even as low patronage and financial incapacitation have jointly continued to threaten businesses in the area. .

Simon Ajumobi, a shoe dealer in the Market said customers have been frightened away from patronizing shoe delears because of the soaring price of the products which had continued to increase on daily basis unabated.

“People are hungry. Customers want food first before buying shoes. The unsteady but increasing price of commodities has contributed to business closure as some traders could not continue under the present ugly situation”, Ajumobi lamented .

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According to sources , one carton of smallest size of noodle is sold N8,400 while retail price of the product was N250 per sachet at Afor Nnobi Market, yesterday.

Mrs Chinenye Anyawu, a dealer in variety of noodles at Eke Ekwulobia Market said the price increase in noodles from N3,000 per carton of the smallest noodle to N8,400 has led to a reduction of customers and patronage, adding that it has also affected demand and supply for the commodity.

At Nkwo Igbo Market, a market where yams and beat are got at affordable prices, the hardship has hit the beaf, yams and vegetable market there adversely.

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Traders in the market lament low patronage and high cost of cattle from which beef is got, saying buyers find it unacceptable when given five small pieces of beef for N1000 .

According to a cattle dealer, Mr. I.A. Emenike, after paying about N10, 000, 000 another sum of N500, 000 is paid to the cattle conveyor at Amansea to transport the cattle to Igbo Ukwu and Isuofia as the case might be. This according to, him increases the price of beef for the consumer.

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The yam dealers on their part say they now buy yams from the Northern part of Nigeria at exorbitant price and pay exorbitant price to transporters to convey the produce to the market from Gudi in the North.

Allegedly, however, given the ugly situation economic qactivities and even means of trsportation to various parts of Anambra has reduced amidst fare hike while passengers have also drastically curtailed travelling, a situation commuter drivers say had impacted negatively on them and their income .

Sources called on the APC led Federal Government to ameliorate the sad situation .They also urged the APC to prevail on President Ahmed Bola Tinubu to change the alleged obnoxious policy that led to the hardship and suffering in the country<<<READ FULL ARTICLE>>>