Traders dealing in perishable goods in Lagos experienced significant financial losses on Thursday due to the nationwide protest. The protest led to the abandonment of markets across the state, including the popular Alaba International Market in Ojo and the markets within the Lagos International Trade Fair Complex.
The protest, which commenced on Thursday and was scheduled to end on August 10, was organized to draw the attention of the Federal Government to the economic challenges faced by Nigerians. Fearful of potential violence orchestrated by hoodlums taking advantage of the protest, traders chose to stay away from the markets, resulting in a dire situation where their goods may spoil before the protest concludes, exacerbating their economic hardships.
Although no protests were held in the Ojo area of Lagos State, major roads were deserted by people with security operatives stationed at strategic points. Residents gathered in front of their streets and open spaces to discuss the protest.
Mrs. Rita Igwe, a fish seller, expressed her concerns about her N900,000 worth of frozen chicken and fish in her shop at Alaba International Market. She fervently prayed for the protest to end on Thursday so she could resume business and sell her inventory. Mrs. Grace Ukakwe, who sells food at the market, shared similar concerns about her raw food items perishing and the compounded economic hardship resulting from the inability to sell.
Mr. Tochi Amadi, a cluster executive member at the Balogun Trade Fair Market, mentioned that while the market was not officially shut down, traders were advised to stay away for safety reasons. Traders who wished to access their shops were allowed to do so but at their own risk. He emphasized the presence of the executive members of the market to prevent arson and looting.
The situation was similar on Ago Palace Way in Oshodi-Isolo Local Government Area, where most shops remained closed. A few tomato, onion, and pepper sellers displayed their goods for sale on roadsides but failed to attract customers as most people stayed indoors. Policemen and their vehicles were stationed at the Ago Roundabout, and the Divisional Police Station on Ago Palace Way had police officers grouped in front of it.
A supermarket owner on Ago Palace Way, who requested anonymity, explained how the protest paralyzed business activities, leaving people indoors and shops closed. They expressed their hopes that the government would address the concerns raised by the protest, such as fuel subsidy removal and high electricity tariffs, which have inflicted great pain on the masses. The owner also urged the government to improve industrial operations, provide basic amenities, and address insecurity, as farmers cannot access their farms, resulting in soaring food prices.
Mr. David Olakunle, a businessman on Ago Palace Way, voiced his anticipation for a peaceful protest to avoid property damage or loss of lives. He acknowledged the significant disruption caused by the ongoing protest and emphasized the need for the government to address the inflated fuel prices, which serves as a major driver of inflation. He highlighted the challenges faced by farmers who must transport their goods to the market, leading to increased expenses.
In Okeafa Estate, Isolo, tomato and pepper sellers also lamented the lack of patronage, fearing the spoilage of their goods and worsening economic conditions. However, a prominent meat seller at Caneo Market on Okeafa Estate, Isolo, Mr. Wale Ojo, remained undeterred by the protest and continued selling his goods to a few buyers. He expressed his commitment to ensuring his family’s well-being and explained the necessity of making daily income to meet their needs, even in challenging times for Nigeria.
In general, most shops in the affected areas remained closed, while the few commercial tricyclists and minibus operators who ventured out lacked substantial businesses. Policemen and personnel from the Lagos Neighbourhood Safety Watch were visible on the roads, ensuring security and maintaining order.
In summary, the protest in Lagos resulted in deserted markets and significant financial losses for traders dealing in perishable goods. The fear of violence and the potential for looting led traders to avoid the markets, exacerbating their economic hardships. While some areas saw reduced activities due to the protest, others remained open for business but lacked customers. The affected traders expressed their hopes for a swift resolution to the protest and government intervention to address the economic challenges faced by Nigerians.