The former governor of Anambra State and 2023 Labour Party presidential candidate Peter Obi in a post has stated the reasons for the continuous economic stagnation in the country.
Obi on Monday had pleaded with government of Anambra state to reconsider the closure of Head Bridge Market in Onitsha. The market was reportedly closed by regulatory and security agencies due to suspected trading in illegal drugs within one section of the market known as Ogbo Ogwu.
However, his visit to the market and governmental plea fell on deaf ears in some quarters as the former governor claimed that there were mixed reactions to his action.
He reasoned that the foreclosure of the entire market is “why we continue to experience economic stagnation, and unproductivity in our nation.
“When those who have never built or managed businesses – who do not understand how micro, small, and medium enterprises (MSMEs) operate – are in charge, they take actions that cripple legitimate businesses and stifle economic growth.
“This is how we have continued to decline – where governance disregards the realities of everyday Nigerians.” He added.
The former presidential candidate had unequivocally stated on Monday that “shutting down other neighboring markets not involved in addition to the Ogbo Ogwu Market such as Rod, Allied and Tools, Plumbing Materials, Timber, Surgical, and Provision Markets seems excessive and unjustified.”
Though he had condemned drug peddling and urged the government to take necessary steps in eradicating counterfeit production of items but had appealed for the immediate reopening of the unaffected markets, reasoning that their continued closure will affect livelihoods.
Obi further pointed out that small-scale businesses are a critical part of the economy and essential as a developing nation.
Citing examples: “During my recent visit to Indonesia, I engaged with the Ministry of Micro, Small, and Medium Enterprises (MSMEs) and policymakers. They clearly demonstrated how Indonesia MSMES provides over 90% of the employment.
“The Indonesian government provides committed support to ensure these MSME businesses thrive, offering access to reduced funding while ensuring that those who violate the law are duly persecuted and punished.
“During my tenure as Governor, Anambra State was the first to seek a partnership with the Bank of Industry to secure special loans for MSMEs. A dedicated committee was set up to ensure that the loans reached those who truly needed them. We also facilitated the establishment of a Bank of Industry branch in Anambra to enhance access to funding.
“When many states were banning motorcycle riders, a.k.a okada riders operations, on allegations that they were involved in criminal activities, I refused to follow suit because I understood the economic implications for small businesses. Instead, I intensified efforts to enhance their operations, creating an environment where small businesses could thrive while collaborating with their unions, and security agencies to weed out the bad actors.
“Similarly, I ensured that certain categories of small businesses, such as wheelbarrow pushers, were exempted from paying taxes to ease their financial burden.” He added
Criticizing the present administration of the state: “You do not cripple an Ogbo Ogwo market and surrounding markets for several days in the name of enforcement.
“These are people struggling to survive in an already difficult economic environment, yet instead of providing solutions, the government is shutting down markets indiscriminately. This is not governance; it is economic sabotage.”
The former governor reinforced in the post while appealing to the government to protect Small businesses and “not destroyed—if we truly want to build a productive nation.”
By; Adeoye Olorunseun Elizabeth
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