Peter Obi Slams Market Closures, Calls for Support for Small Businesses

Presidential candidate of the Labour Party in the 2023 general election, Peter Obi, has condemned the shutdown of markets in Onitsha head bridge, while urging support for small scale businesses.

In a recent post on X, Obi addressed the mixed reactions to his call for the immediate reopening of markets that were not involved in illegal drug trading.

Obi argued that the closure of the markets was a reminder of why Nigeria continued to suffer from economic stagnation and unproductivity.

He asserted that when individuals, who have never built or managed businesses—and who lack a genuine understanding of how micro, small, and medium enterprises (MSMEs) operate—are in charge, their actions inevitably crippled legitimate businesses and stifle economic growth.

During his recent visit to Indonesia, Obi engaged with the Ministry of MSMEs and policymakers, who demonstrated that over 90% of employment in Indonesia is generated by MSMEs.

He contrasted this with the current situation in Nigeria, emphasising that a government that understood the critical role of small-scale businesses could boost a more productive economy.

Reflecting on his tenure as governor of Anambra State, Obi recalled that his administration was the first to secure a partnership with the Bank of Industry to provide special loans for MSMEs.

He said he also set up a dedicated committee to ensure funds reached those in need and even facilitating the establishment of a Bank of Industry branch locally.

While many states opted to ban okada riders due to alleged criminal activities, he resisted such measures, recognising the severe economic implications for small businesses.

Instead, he enhanced their operations by collaborating with unions and security agencies to remove bad actors and even exempted certain small businesses, such as wheelbarrow pushers, from paying taxes to ease their financial burden.

Chuks Okocha

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