By Vincent Kalu
Any regular visitor to the annual Lagos International Trade Fair would have observed that the just concluded edition was a pointer that the economy of the country is at its low points. This year’s Fair, held at Tafawa Balewa Square, opened on November 4 and closed on November 12. But the usual fanfare, hoopla and other trappings that usually accompany it were missing. The normal vehicular traffic in the adjourning streets during the tair was absent. The prices of items were unfair, and the patronage was poor.
In the past, the ticketing officials and security men at the entrance gate had a hectic time controlling the surging crowd trooping to buy tickets which give them access into the premises, but it was not so this year, as visitors were trickling in.
The products displayed on the stands of many of the participants were electrical items, electronics, and household items imported from China; an indication of the country’s domineering presence in Nigeria’s economy. Japan had a large tent where products from the country were on display. Not many countries participated unlike in the past. Lagos, the host and Abia were the only states that had a stand each. In the past, one could hear the blaring of sirens announcing the presence of a governor or government officials who came to celebrate the presence of the state at the fair. The presence of students and pupils from so many primary and secondary schools who came on excursion added a little fillip to make the venue look rowdy and busy.
There was only one stand for motor tyres, and that was for Maxis from Malaysia. A 265/65/70 size tyre that used to be about N50, 000 eight months ago was sold for N123, 000. Only four automotive lubricant companies were present out of the dozens of them in the country -Techno Oil, North West Oil, Delta Fuel and one other. The multi nationals – Total, Mobil, Eternal, AP, Conoil, Chicason, etc were not there.
The cost of engine oil has hit the rooftop. Different oils for different grades of vehicles have increased by almost 100 per cent in the last eight months. Prices for lower vehicles range between N7, 000 and N12, 000.
The estate and property development firms were noticeable not in their stands, but by the number of young ladies and young men they employed to market their products. Dressed in the company’s branded Tee shirt, they would accost visitors, hand over their product literature / flyers, explaining to them their products and what they stand to gain by acquiring landed properties at the various estates. As they looked at you, the poignancy of their explanations suggested that they were simply doing what they were employed to do. These marketers in this sector were more in number than other sectors.
Natural herbal medicines had their own marketers, who after handing their flyers to a visitor would start giving unsolicited health lectures.
Food vendors complained of very low patronage. One of them, Mrs. Maria, told Saturday Sun that she had been buying a stand for many years and had made money in the past, noting that this year’s had been different.
“None of us here had not broken even after every trade fair, but this time around, some of us are even regretting spending buying a stand and coming here. Look at how scanty this place is. In the past, would you even see the place to pass through? Go and ask those loaders with their wheelbarrows sleeping there. They are waiting for people to buy goods so that they would help to carry them to their vehicles, but some of them are sleeping because of the situation of things.”
One of the loaders, a young man of about 20 years, corroborated what the woman had said. According to him, “this trade fair is not what it used to be. In the past, we would even get tired of carrying items to owners’ vehicles. But this year is very different. We are looking for what goods to carry.”
Mr. Jack Owese said he came to buy motor oil not thinking it might be cheaper here. But it is buying from the source.
“You are sure of what you are buying here, instead of going to the open markets where you are not sure of the quality of the product. I have been coming here every year and you had array of companies that produce motor lubricants, displaying their products. But, this year, how many of them? Maybe, three or four of them. This tells you how low the economy of this country has sunk. This doesn’t look like Lagos State Trade Fair that would be bubbling from the first day till the last day. The earlier the government does something about the economy, the better. We can’t continue like this.”
One of the organisers, who craved anonymity, told Saturday Sun that the economic downturn of the country affected the participation of companies both local and foreign. He noted that it has not been all that bad. He wished that the next edition would be better, and that by then the economy would have stabilised.