ANAMBRA State Governor Chukwuma Soludo has ordered the closure of the Onitsha Main Market for one week after traders allegedly failed to open their shops on Monday, despite the state government’s directive to end the sit-at-home.
The governor gave the order during a visit to the market on Monday, January 26, where he met many shops locked.
The ICIR reports that state government had ordered traders to resume their business on Mondays as against the sit-at-home ritual.
However, during his visit to the market on Monday, the governor expressed concerns over the continued closure, saying the closure of businesses was hurting the state’s economy.
Soludo said, “The government cannot stand by while a few individuals willfully undermine public safety and disregard official directives meant to restore normalcy. This is plain economic sabotage.”
He warned that the closure could be extended if traders did not comply. According to him, “You either decide that you are going to trade here or you go elsewhere. I am very serious about this.”
Security operatives were deployed to enforce the shutdown, and the market gates were sealed.
The Onitsha Main Market is one of the largest markets in the South-East and plays a key role in trade across the region. Any disruption affects traders, transporters, and suppliers who depend on daily business activities.
The shutdown comes amid long-standing economic losses linked to the sit-at-home order in the South-East.
The ICIR reports that Anambra generated ₦42.69 billion (₦42,689,648,058.74), as Internally Generated Revenue (IGR) for 2024. This placed the state at 17th out of 37 states, including the Federal Capital Territory.
Many argued that the continued disruption of business activities, especially on Mondays, has affected revenue generation.
Also, a report by The ICIR in January 2024 showed that micro businesses in Anambra, Enugu, Ebonyi, Imo, and Abia lost an average of ₦4.618 trillion ($10.495 billion) in one year due to sit-at-home.
The investigation found that estimated revenues of micro businesses in the five states were added together and multiplied by 52 weeks, representing the number of Mondays in a year. The analysis used data from the National Bureau of Statistics (NBS) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) 2021 survey reports.
Another ICIR-funded report published by Dataphyte showed that micro businesses in the South-East lost ₦5.375 trillion ($12.215 billion) after wasting 71 Mondays between August 9, 2021 and December 19, 2022.
In the same vein, a report by The Guardian newspaper noted that sit-at-home observances every Monday since August 9, 2021 have cost the South-East an estimated ₦7.6 trillion in lost productivity, potential investments, and losses of lives and property.