Former Labour Party presidential candidate, Peter Obi, has condemned the ₦700,000 fee imposed on shop owners at Head Bridge Market in Onitsha. He described the charge as a form of economic sabotage against small business owners struggling in Nigeria’s harsh economic environment.
The popular drug section of the market had earlier been shut down by the National Agency for Food and Drug Administration and Control (NAFDAC), according to reports, to address the circulation of counterfeit goods and fake medicines.
Obi expressed disappointment over what was meant to be a short-term regulatory measure turning into prolonged business disruption with added financial strain. He emphasized that he initially supported the market closure, believing it would be resolved quickly to protect public health and support lawful trade.
“I did so with the hope that investigations would be carried out swiftly and the market would be reopened promptly, especially to ease the suffering of small business owners already burdened by our current national economic challenges,” Obi said via a post on X.
He called the ₦700,000 reopening fee “insensitive” in light of Nigeria’s economic reality. He also referenced the alarming collapse of over 7 million Micro, Small, and Medium Enterprises (MSMEs) across the country in the past two years.
Obi drew attention to the suffocating effect of policies that place more burdens on entrepreneurs. He described Nigeria’s MSME sector as being at a “we can’t breathe” stage, where instead of receiving support, businesses are facing more obstacles.
He urged a policy reversal, stressing that the affected traders have already endured economic hardship due to prolonged closure, unpaid rent, and loss of income. “These shop owners have already endured prolonged closures, mounting unpaid bills, and economic strain. Adding further burdens to them and their families at this time is simply unjust and economic sabotage,” he said.
He concluded by appealing to authorities to show empathy in their actions, encouraging them to consider the impact of such decisions on livelihoods and community welfare. Obi stressed the importance of compassionate governance during challenging times.
The reopening fee controversy at Head Bridge Market reflects broader concerns about Nigeria’s business environment and the need for policies that prioritize the survival and growth of small businesses, not their extinction.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
