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By Victoria Ojeme
ABUJA – President of the National Association of Nigerian Traders (NANT), Ken Ukaoha, said the country would lose more than 140 billion naira due to postponement of general elections.
Ukaoha said this in Abuja on Saturday that the postponement would have a negative impact on the commercial sector.
Ukaoha pointed out that the postponement of the transaction would have a negative impact on the economy of the government, political parties and ordinary Nigerians on logistics and other means.
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Ukaoha called the postponement of the elections a frightful and unfortunate one that could make the nation the laughingstock of the people.
He noted that many traders had not opened their stores because of elections.
"I'm not talking about the manufacturing sector, the carriers and the farmers; even the workers were asked not to go to work.
"We have to be well prepared for the elections," he said.
"The loss is monumental if you look at the economic consequences, especially if you look at trade, Nigeria is so dependent on the daily reversal of funds through the distribution and redistribution of goods and commodities.
"I tell you that with this calculation I just made here, we do not lose less than 140 billion naira, because all have received this information so late.
"If you go around now, you will see that the shops are close, so we are losing a lot of money just for this incident.
"We are not talking about manufacturers and manufacturers, because they have all sent their workers to go out on their civic duty.
"Farmers did not go to their farms because they wanted to exercise their right to vote. If you do the math, your hypothesis is as good as mine in terms of what the nation loses, we should learn.
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