• Business - Entrepreneurship
  • Updated: May 19, 2023

Expert Urges Governments To Support Traders

Expert Urges Governments To Support Traders

Prof. Obiora Okonkwo of the University of Abuja has called on governments at all levels, especially Lagos State to intensify support for traders.

Okonkwo made the call in Abuja on Thursday at a meeting with the new executives of Ndigboamaka Progressives Markets Association (NPMA).

NPMA is the umbrella body of Igbo Traders in Lagos made up of 58 market groups across the state.

According to Okonkwo, the call became necessary given the high volume of trading activities and turn out by the traders and the impact to the economy of Lagos and Nigeria in general.

“This people who are representing a turn over of trillions in this our economy, as simple as they might look, they can not be taken for granted.

“These people here have millions of youths who are engaged over their mentorship in different markets in Lagos, they should be recognised, and that is going to be our objective.

“So, they need all the support to add more to grow their business because the bigger their business becomes, the more trillions of turnover they are turning in, the more customs duty, the more taxes to the nation.

“A good number of them are moving from trading to manufacturing, to assembling and not Just buying and selling.

“The association is a very important group to the life, future and economy of the nation because these people consist of about 60 to 70 per cent of Lagos economy’s Internally Generated Revenue (IGR)", he said.

Okonkwo, who is a professor of Business at the University of Abuja Business School, said the group has worked out a way to create mutual working relationship and understanding with government.

"There is an improved relationship within my leadership; last year, there was a special event where they gave a special award to the Lagos governor based on association and collaboration on improved relationship.

“And the governor for the first time appointed a member of the association into the Lagos State Market Advisory Council.

“At that meeting, the governor received an open endorsement of the association for his second term in office", he said.


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