Peter Obi Decries ₦700,000 Reopening Fee for Onitsha Traders as “Economic Sabotage”

Written by Jerry Alomatu on May 28, 2025

News Views: 362

Peter Obi has criticised the reported demand of ₦700,000 from traders as a condition to reopen their shops at the Onitsha Head Bridge Market, describing it as an unreasonable burden on already struggling small businesses. He previously supported the market’s temporary closure, backing regulatory efforts to eliminate counterfeit drugs and substandard products. However, he had expected a swift investigation and a prompt reopening to mitigate financial strain on the traders.

Obi expressed disappointment upon learning that shop owners, after weeks of inactivity and financial loss, were now being asked to pay what he sees as an excessive fee. He believes this move could worsen the economic hardship faced by Micro, Small, and Medium Enterprises (MSMEs), many of which have already shut down under Nigeria’s challenging economic conditions.

Citing the collapse of millions of small businesses in recent years, Obi argued that policies and decisions should aim to support these enterprises rather than push them further into distress. He characterised the reopening fee as economically damaging and called on the relevant authorities to reconsider it in the spirit of fairness and recovery.

He urged the government to act with empathy and prioritise policies that help small businesses survive, especially at a time when they are essential to Nigeria’s broader economic revival