From Godwin Tsa, Abuja
The National President, Christian Traders Market Fellowship of Nigeria (CTMFN), Pastor Wilson Nwachukwu has lamented the effect of insecurity on the prices of goods sold across the country. He said that there is nothing that traders can do to stop passing down the prices of goods they bought at exorbitant prices to consumers. Another factor he blamed for the rising prices of goods is high custom-duties and banks’ interest rates which he claimed. He would therefore want the government to do something about these in order to relieve Nigerians of economic and financial hardship occasioned by the spiraling chain cost. He spoke to Saturday Sun.
Traders in Nigeria constitute an important segment of society. Are you satisfied with the economic situation in the country?
No, we are not. This is because there are a lot of things happening in this country that are not supposed to happen. Take for instance, insecurity and the harsh economy.
In the area of insecurity, commercial activities are being hampered as people are afraid of moving from one place to another. As a result, business is not flourishing and goods are becoming more and more expensive. Things are so expensive to a point that most traders borrow money to add to what they have to buy goods. This is a major problem that traders are finding difficult to cope with.
In practical terms, how does insecurity affect your business?
People are scared of traveling because they can be attacked, robbed, killed or kidnapped on the road. That is why people now buy goods through electronic means. And because you are not physically present on ground, sometimes, they package substandard products or goods and send to you at a very high cost.
If you were to advise the government on what it can do to stem the growing cost of goods in the country, what will be your advice?
There are a lot of things government can do. Number one is the high customs duty. Traders are not carried along in this area. The cost is imposed on them without allowing them to make any input. I want the government to revisit this issue and reduce the custom-duty on all import commodities.
One of the reasons advanced by the government for the high custom-duty is that it is a deliberate policy to encourage and protect local manufacturers. Do you agree?
I don’t totally agree. The only area I agree is that all these local products are of good quality. However, they cannot meet the market demand and this is where I disagree with the government on the issue. Government should look at the custom duty and review the cost to an affordable level. Another area is that traders need loan facilities to enable them to cope with the high cost of doing business. There is a need for the creation of Traders’ Bank, where traders can access loans without hitches in terms of high-interest rates. Remember, we are talking about reducing poverty in the country and the largest workforce in the country today is the market. University graduates who cannot afford white-collar jobs find themselves in the market in trying to eke out a living. But unfortunately, they don’t have the capital to set up a business of their own. So, if there is such a bank, traders and potential traders can go there and take loans at low-interest rates to set up themselves. Our unemployed youths venturing into business will be able to access loans to set up their businesses.
Isn’t that the role that micro-finance banks are supposed to play?
The interest rates charged by those MFBs are too high. They will tell you that is what it is. But if you venture into it, you will fall into a trap because the charges are much. What we are asking for is interest-free loans or loans with little interest. Nigerian traders are ready to engage in flourishing businesses. But they lack the capital to do that. If our traders are given loans, such loans will be paid back because the two main religious groups in the country have their leaders among the traders and none of them would sit back and allow any of its members to default in paying a loan facility granted to him. The religious leaders among us will guarantee the safety of loans that will be granted to us by gthe overnment.
The Central Bank of Nigeria (CBN), introduced a facility for agric. farmers in the country. Is there no such facility for traders?
There is nothing like that. Even if there is such a facility, how many traders will be able to access it? When you say ‘Trader Moni’, how much is it? N10,000! What can N10,000 do for you? Will you use it to cook a pot of soup? We always keep saying Africa is poor. But if Nigerian traders are properly funded, Nigeria will be able to bail the entire African region and compete favourably with other traders in the world. By now, we should have been exporting our products to other African countries and not traveling with them to China, Dubai and Turkey.
The next General Elections will come up in February/March 2023. What is your association doing to sensitise your members?
The 2023 election is a game to watch and many Nigerians, including members of our association, are keen to know who will win. In that election, Nigeria is no more looking for a ruler but a leader. Leadership is very important because you cannot give what you don’t have. We need people who have the brain, who have what it takes to lead us to the Promised Land.
We don’t want leaders that will only speak grammar and make vain promises, but leaders who will promise us good roads, and electricity. We want those who will tell us how they are going to actualize those promises. Our members are ready with their PVCs and ready to vote for credible candidates, not along tribe, religion or party lines, but candidates that can deliver. Tribe and religion cannot bring the desired development in Nigeria. Only credible and God-fearing candidates can develop the country for us and our children. That is what we are looking forward to in the forthcoming elections. It is not going to be business as usual. The era of people collecting N10, 000 and selling their conscience is over. Today, things are changing and our youths are getting wiser.
Where does your association stand on the Muslim-Muslim ticket?
We are not comfortable with it. You know Nigeria is a religious nation and we don’t want anything that will divide this country along religious lines. We are not comfortable with a Muslim-Muslim ticket. It should have been a Muslim/Christian ticket to strike a balance among the two major religious groups in the country.
There are three leading presidential candidates. Could you confirm whether you have seen anyone among them with the kind of qualities you are looking for?
Yes, only one. He said something that touched the traders. He said he will make Nigeria an exporting country and not a consuming country. He promised that if elected, he is going to encourage production, and we are watching that candidate with keen interest. When he made that pronouncement, he bought the minds of traders. But we need him to say more and tell us about other areas and how to improve trading in the country. We are organising prayer sessions in six states across the country. We shall offer prayers to God and at the end, we shall formally announce to the Nigerian public, the name of our preferred candidate.
Your association has a large population. Isn’t such a collective decision going to result in a block vote for your candidate?
Yes, we are going to give block votes to the candidate of our choice. But before we do so, we want the candidates to come out with their manifestoes and blueprint so we can choose the best among them. We are not going to vote for a dark horse in a dark night. We want to vote for a white horse in broad daylight.
What is the mission of your association?
Our mission is to preach the gospel in commercial places – shopping complexes, street traders or marketplaces.