The Abuja Market Women Association has called on the Federal Government to release smaller Naira denominations into the nation’s economy.
The Leader of the association, Mrs Felicia Sani, made the call on Thursday in Abuja at the launch of the Wuye Ultra Modern Market in Abuja by President Goodluck Jonathan and unveiling of the plaque by Dame Patience Jonathan.
The women specifically demanded the supply of the N20, N50, N100 and the N200 notes in circulation.
According to her, the non-circulation of the smaller denominations has affected many businesses.
She said “we buy smaller currencies for higher amounts. For example, we use N1,000 to get N900 of smaller denominations.
“The little profit we make from our daily sales is eaten up by the smaller denominations that we have to buy to give change.”
The market women leader said that at times, due to the lack of change, a trader was forced to forfeit his or her little change, “which amounts to our profit.”
Sani added that the country’s economy would only grow if profits were maximised without such hindrances.
She commended President Goodluck Jonathan for his support to grassroots projects and gave the assurance that the association would ensure proper management of the new Wuye market in Abuja.
Mrs Jibola Bolatinwa, the acting Managing Director, All Purpose Shelters Nigeria Ltd., urged the Federal Government to address the issues surrounding the construction industry.
She said the instability of policies on building materials’ prices was a major issue.
She added that “when we started work on this market site in 2006, the price of cement was less than N700 per bag; then at a point, it became scarce, which slowed down the progress of work.
“The cost of cement is currently N1,750; the increase in cost is being experienced on all building materials,’’ she said.
Bolatinwa, who decried the absence of skilled artisans, said “to be modest, only 10 per cent of the labour force in the building industry has actually gone through any form of training.
“This poses a very big challenge to professionals in the industry.”
The News Agency of Nigeria (NAN) reports that contract for the multi-billion naira project was awarded in 2004.
The project is on build, operate and transfer concept, which entails executing the development project via a private sector company using its own fund.
The company would run it for profit over an agreed tenure after which it would be reverted to government. (NAN)
© anu for Royal Times of Nigeria Newspaper, 2014. |
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