Traders at the GSM Village in the FCT on Friday called on
the Federal Government to empower small business people to help their
businesses to grow.
Some of the traders, who spoke with the News Agency of
Nigeria (NAN) in Abuja, said that lack of finance was threatening the existence
of their businesses.
Mr Ali Isiaka, the Managing Director of Two Shot
Communications, a GSM outlet said that the problem of finance could be solved
if government would empower the traders with some loan facilities.
Isiaka said that it had been very difficult to get loan
from the banks and even when they got it, the interest rate was just too high.
“The way to solve the problem we are facing in the
business is that government should help us get loan with low interest rate.
“The problem we are having in this market is that there is
no money in circulation to do business that is why we are calling on government
to come to our aid.
“Another challenge in the business is that spare parts of
phones are very expensive because I do hardware but if there is enough money,
we will be able to buy these items in bulk.’’
Isiaka also blamed some dealers for the high price of
phones in the market, adding that they also use the high forex rate as excuse
to increase their prices.
He said that in February, he bought a phone for less cost,
but now the price of that same phone had increased.
“Everybody is shouting dollar but I do not see any dollar
problem in this because dollar is N420 today and the price is still constant
and we are shouting government, meanwhile the problem is caused by us.
“Now that the dollar is reducing, why can’t they sell the
phones at reduced rate rather than the former price; so let government
intervene and put things as they should be because only the rich people are
enjoying now.’’
Mr Dele Hakeem, the Managing Director, Stone Crush
Communications, said that government should find a way of helping them in form
of empowerment.
“We all know what is going on in the country; you cannot
compare it with what happened two or three years ago. We hardly have customers
to buy our goods.
“And apart from that, this exchange rate is also affecting
our businesses. I work as an IT personnel and am into software. The economic
downturn is affecting me because there is no money is circulation.
“People do not want to pay their bills when you finish
working for them.
Another trader, Mr Ahmed Usman, said that he had been
facing a lot of challenges due to low patronage, adding that before he used to
make more sales.
“The recession is really affecting our businesses, like
now I have been sleeping since morning (2 p.m.) because there is no market but
before I could not sleep in the shop because of patronage.
“Things are very expensive and people cannot afford to buy
phones because of the price as dollar is coming down, it will be better, it
will make more people buy phones.’’
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