2027: Traders Demand Economic Blueprint from Aspirants as MAJAN, NDIGBOAMAKA Seek Stronger Trade-Media Partnership

2027: Traders Demand Economic Blueprint from Aspirants as MAJAN, NDIGBOAMAKA Seek Stronger Trade-Media Partnership

By Evelyn Benten

The NDIGBOAMAKA Progressive Market Association, an umbrella body representing major markets across Lagos State, has challenged political leaders aspiring to contest the 2027 general elections to move beyond political rhetoric and present practical economic blueprints capable of reviving trade, supporting small businesses and restoring confidence in Nigeria’s economy.

The call was made by the President of the association, Comrade Chinedu Ukatu, during a media parley with members of the Maritime Journalists Association of Nigeria (MAJAN) held in Lagos on Tuesday, June 16, 2026.

Responding to questions on the state of the economy, the business environment and expectations from political office seekers, Ukatu said Nigerian traders are increasingly concerned about the country’s economic direction, lamenting that politicians appear more preoccupied with electoral calculations than addressing the pressing economic realities confronting businesses.

“We are worried about the 2027 elections because what we hear from politicians is mostly about power struggles and political alignments, not about how they intend to improve the economy, infrastructure or create a better environment for businesses to thrive,” he said.

According to him, inconsistent government policies, inadequate stakeholder consultation and foreign exchange volatility have made long-term business planning almost impossible for traders and importers.

He stressed that unlike businesses in more stable economies that can plan years ahead, Nigerian entrepreneurs operate in an atmosphere of uncertainty.

“Trade is the engine of every economy. Those seeking leadership positions should clearly tell Nigerians what they intend to do for traders, manufacturers, SMEs and the economy as a whole,” he added.

Ukatu attributed many of Nigeria’s economic challenges to poor leadership, expressing optimism that the country’s fortunes could change dramatically under a competent and visionary administration.

“If we get the right leadership, Nigeria has no problem. The right policies will be implemented, investments will grow and the economy will recover,” he stated.

Speaking on the plight of Small and Medium Enterprises (SMEs), the traders’ leader identified high interest rates, multiple taxation, poor infrastructure, unfriendly trade policies and inadequate government support as some of the major obstacles limiting business growth.

He noted that many market associations are compelled to provide basic infrastructure, including roads, security and sanitation, despite paying numerous taxes and levies.

“Most markets provide essential facilities for themselves, yet traders continue to face multiple taxation and other operational burdens,” he lamented.

Ukatu further observed that many traders aspire to expand into manufacturing and export businesses but remain constrained by limited access to affordable financing and weak institutional support.

To address the challenge, he proposed the establishment of a dedicated “Traders Bank,” jointly owned by government and traders’ associations, to provide low-interest, single-digit loans for SMEs.

According to him, such an institution would stimulate business expansion, boost local production and generate employment across the country.

He also advocated greater participation of traders in policy formulation, insisting that government should engage stakeholders before introducing policies affecting commerce and industry.

On national cohesion, Ukatu disclosed that the association had inaugurated a sensitisation committee to promote peaceful coexistence among traders across ethnic and religious divides.

He maintained that commerce flourishes through cooperation rather than division, accusing politicians of exploiting ethnic and religious differences for political advantage.

“For traders, business comes first. Customers buy quality and affordable products, not ethnicity. We are promoting unity because trade is built on partnership, trust and shared prosperity,” he said.

Earlier, the President of the Maritime Journalists Association of Nigeria (MAJAN), Mr. Jerry Aguigbo, commended the NDIGBOAMAKA Progressive Market Association for its immense contributions to Nigeria’s economic development through commerce, entrepreneurship and job creation.

He described traders as indispensable partners in national development and called for stronger collaboration between the media and the trading community to advance policies that promote trade facilitation, economic growth and national prosperity.

In his welcome address, Ukatu also highlighted the strategic role of maritime journalists in shaping Nigeria’s economy through objective reporting and sustained advocacy for reforms within the maritime and trade sectors.

He urged journalists to uphold professionalism, remain united and avoid unhealthy rivalry among media associations, stressing that stronger collaboration between the media and organised traders would contribute significantly to policy reforms, trade expansion and sustainable economic development.