Market Closed: We’re losing N100bn daily, Ladipo traders cry

Traders in the popular Lagos Ladipo auto parts have started counting their losses, saying they are losing at least N100 billion daily Due to the  closing down of the market by Lagos State Government on Monday. Traders lamented that they were already feeling the pains of the closure as they could no longer meet their obligations to their families.

Speaking, Secretary of the Aguiyi Ironsi Traders Union, Mr. Christain Igbaunam told Vanguard that his members would be losing over N100billions per day to the closure and lamented that efforts to meet with the Lagos State Task force on Environmental and Special Offenses (Enforcement) Units, to negotiate the opening of the market had proved abortive.

He said: “We have over 15, 000 registered members. Individual members make not less than N10 million daily. On the average, members will be losing over N100billions on a daily basis to the closure of the market.” He denied allegations that their security guards arrested were armed robbers, saying “those allegations made against our security guards are false. They were not armed with guns and were not against the state officials. They were only misunderstood. These are security guards put in place by the association to arrest criminal activities in the market. I am pleading for their release.”

Another trader who gave his name as Jude Tobechukwu, pleaded for the re-opening of the market, saying “we are losing billions of Naira to the closure of this market. Today’s (yesterday) is the second day that we have been shut out. I have lost over N10 millions since the closure. That is a huge sum of money even those in government do not want to lose.”



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