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Tag: Market

  • Ogbeogonogo traders affected by fire incident cry to Gov Okowa for help

    Ogbeogonogo traders affected by fire incident cry to Gov Okowa for help

    Traders affected by the Tuesday’s morning fire incident at Ogbeogonogo market in Asaba, capital of Delta State, have cried out to the State Governor Ifeanyi Okowa for assistance.

    TheNewsGuru.com (TNG) reports part of the popular Ogbeogonogo market, off Nnebisi road Asaba, one of the biggest structured markets in Delta State was razed by fire on Tuesday.

    The section affected by the early morning inferno houses shops for food stuff, clothes and fashion as well as livestock and butchery. Goods worth hundreds of millions of naira were reportedly lost to the fire.

    The traders affected cried to Governor Okowa to alleviate their plight, urging the government to reconstruct the affected section of the market.

    “This is my only livelihood. How can I bear this even with the situation of the country now? I don’t know what to say. Government should please come and rescue the situation,” one of the traders, who was not able to mention his name, told TNG in tears.

    Meanwhile, Governor Okowa has commiserated with victims of the fire that gutted a section of the popular Ogbeogonogo Market.

    The governor, who visited the market to inspect the extent of damage by the inferno, assured that the state government would assist the traders affected to get back to their businesses.

    He told newsmen that the cause of the fire was still being investigated and assured that the government would liaise with Oshimili South Local Government Council to rebuild the market to modern standards.

    “I have just finished inspecting the burnt section of the Ogbeogonogo market here in Asaba; there was a fire incident in the market this morning but it is the old market that was affected and the new section was not affected.

    “It is obvious that a lot of persons have been affected because we saw that virtually all the stores in that section have totally been brought down by the fire.

    “I commiserate with those who lost their goods to the unfortunate fire incident and as a government we will do everything possible to assist them.

    “I cannot ascertain the number of stores now but there are quite a number and I have directed that the chairman of that section of the market should be able to get to us the documentation of those who own shops in that market.

    “We will also cross check with the documents of the local government council so that we know how to offer assistance in terms of palliative to enable them get back to business.

    “But apparently, they have been very badly affected ,but we thank God for the intervention of the state’s Fire Service; it could have been worse.”

    “That place is actually very congested and I am sure that if not for the intervention of the fire service, the fire would have done a lot of damage not only to the main market but to very many other private stores that are in existence in that place.”

    “The cause of the fire is not yet known because I did ask questions. However, it has happened and it is for us to be able to find a way to provide assistance to those who have been impacted very badly by the incident.

    “We will work with the local government council because markets are actually under the control of local government councils.

    “The main market which was built by the state government was handed over to the local government council.

    “Apparently, the oldest section of the market did not follow any real patterns or rules and so I will have to discuss with the local government council and thereafter give appropriate directives on what ought to be done,” he stated.

    Earlier, the Commissioner for Information, Mr Charles Aniagwu and his counterpart in charge of Bureau for Special Duties, Mr .Mofe Pirah, had described the incident as unfortunate.

    The duo commiserated with the affected traders over the loss of their shops and means of livelihood.

    They disclosed that the state government was going to take a comprehensive assessment of the situation to enable it come up with measures to ameliorate the plight of those directly affected.

  • BREAKING: Fire razes biggest market in Delta State [Video]

    BREAKING: Fire razes biggest market in Delta State [Video]

    On Tuesday morning, fire razed part of the popular Ogbe-ogonogo market, off Nnebisi road Asaba, one of the biggest structured markets in Delta State.

    According to preliminary reports, the chicken section of the market was affected and traders must have lost goods amounting to millions of Naira.

    An eyewitness told TheNewsGuru.com (TNG) that men of the Delta State Fire Service were quick to respond, and that the fire has been put out.

    Meanwhile, the cause of the fire was yet to be ascertained as at press time. However, no casualty has been reported from the fire accident.

     

  • COVID-19: FCTA issues new directives on markets operations

    COVID-19: FCTA issues new directives on markets operations

    As part of measures to limit the spread of the deadly COVID-19 pandemic in the FCT, the Federal Capital Territory Administration (FCTA) has directed that markets in the territory will now only operate three times weekly on Mondays, Wednesdays and Saturdays, from 7.000 am to 2:00 pm.

    The FCT Minister, Malam Muhammad Musa Bello issued this directive in Abuja on Monday, April 6 during a meeting with FCT Market Managers and the top hierarchy of the FCT Police Command, Led by the FCT Police Commissioner, Adamu Ciroma.

    Bello who was represented at the meeting by the Director of Security Services Department, Adamu Gwary, said the directive is part of the ongoing efforts to contain and curtail the spread of the Coronavirus infection in the FCT.

    He also disclosed that only retailers will be allowed to operate within the markets as wholesale services would not be permitted

    Malam Bello however directed market managers and the FCT Police Command to ensure compliance with this directive by monitoring all entry and exit points of the various markets as well as activities of the traders.

    He also advised FCT residents to patronize markets within their neighbourhoods rather than going to the major markets in the FCT, in order limit the spread of the virus between communities in the FCT.

    In his remarks, the FCT Police Commissioner, Bala Ciroma assured that the FCT Police Command would enforce the directive, even as he advised residents against flouting this regulation.

  • Lockdown: Ogun to open markets every 48hrs

    Lockdown: Ogun to open markets every 48hrs

    The Ogun Government says it will only open markets every two days during the lockdown.

    Gov Dapo Abiodun made this known while addressing newsmen on Friday night at his residence in Iperu Remo,Ogun.

    The governor also declared that all markets in the state would only open between 7 a.m. to 2 p.m. on Tuesday as the lockdown started on Friday night.

    He noted that the total lockdown of the state for the first three days was to allow for complete fumigation of the state to disinfect public places such as motor parks and markets.

    “The lockdown will be total from now till 7.00 a.m. on Tuesday, to be suspended between 7.00 a.m. and 2.00 p.m. to allow for essential business activities.

    “This 7.00 a.m. to 2.00.p.m. window will be observed every other day therefrom; that is, Tuesday instant, Thursday, and Saturday for the coming week,” he said.

    The governor noted that no fewer than 500,000 households would benefit from the stimulus packages to cushion the effects of the lockdown.

    Abiodun explained that the packages, which comprised of 5kg each of rice, beans and garri with tomato pastes, vegetable oil, salt, seasoning cubes and other hygiene products would be distributed to the “poor and the vulnerable in the state’’.

    The governor, however, warned that under no circumstance should the items be diverted to other use other than what they were meant for.

    He appealed to the people to avoid stampede and unnecessary struggles during the distribution, saying it would be an ongoing process.

    “We have constituted a multi-sectoral local government taskforce to monitor the daily report and distribution of the stimulus packages from state government to all the 236 wards of the state,” Abiodun said.

    The governor further said that the state government would begin to enforce compulsory wearing of face mask as from Tuesday morning of April 7, till the expiration of the lockdown.

    He also announced that the third case of COVID-19 who tested positive 10 days ago, was discharged on Friday evening, having shown considerable improvement in his health condition.

  • Suicide bomber hit market, kills at least 25

    Suicide bomber hit market, kills at least 25

    A suicide bomb attack on a crowded festival and market in northwest Pakistan’s northwest killed at least 25 people on Friday and wounded 20, a government official said.

    The blast occurred at around the same time that three attackers tried to storm the Chinese consulate in the southern city of Karachi.

    Two policemen and the three attackers were killed.

    Deputy Inspector-General of Police, Karachi South Region, Javed Alam, confirmed that two policemen and three other unknown persons were killed when a group of terrorists opened fire at them in the diplomatic zone where several foreign missions are located in Clifton area of Karachi.

    Around three to four terrorists riding on a vehicle reached the area and started firing and hurled a couple of hand grenades at the police personnel deployed for security of the area.

    Director of the Jinnah Hospital Karachi, Seemi Jamali, said that overall five bodies and one injured have been shifted to the hospital.

    Two of the deceased are recognised as the police personnel, but others are not recognised yet, said the hospital director.

    The Karachi attack was claimed by a separatist insurgent group called the Balochistan Liberation Army, and did not appear to be connected to the attack on the market in the northwestern region of Orakzai.

    In Orakzai, a suicide bomber drove a motorcycle into a crowd attending a festival and market that attracts people from different religious communities, before detonating his explosives.

    No group claimed responsibility.

    “It was a suicide blast at the festival that takes place every Friday,” said Abbas Khan, the Assistant Commissioner of the District, said.

    Khan said that among the 25 dead were three members of the minority Sikh community and two security officials.

    The Geo television channel showed footage of military officials cordoning off the bomb site.

    Orakzai was formerly a semi-autonomous part of Pakistan’s ethnic Pashtun tribal area along the Afghan border.

    The region was for decades a refuge for Islamist militants fighting in Afghanistan, and more recently against the Pakistani state.

    The Pakistani military stepped up operations along the border in 2009 and has managed to clear some areas of militants.

    The tribal areas were incorporated into the province of Khyber Pakhtunkhwa in May.

    Following the explosion, rescue teams along with security forces have rushed to the blast site and the injured people have been shifted to the nearest hospital.

    Several among the injured people were in critical condition, said the hospital sources.

    Security personnel cordoned off the area after the blast and launched a search operation.

    The nature of the blast is not known yet, and police have launched an investigation into the incident.

    NAN

  • Jos Market fire: I’m devastated by the scale of losses – Buhari

    President Muhammadu Buhari on Sunday consoled victims of the Jos market fire which destroyed more than 200 shops.

    In a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President said he was devastated by the scale of economic losses suffered by hard-working and ordinary Nigerians who believe in self-reliance to support themselves.

    “Trading and agriculture remain the mainstay of these hardworking businessmen and women and every democratic leader would genuinely feel the pains of the victims of this fire disaster.

    “With profound sense of empathy, I am touched by the large-scale economic losses suffered by the victims of this fire disaster. The role of these enterprising Nigerians in the economy of our country cannot be underestimated,” the President said.

    Buhari said he was worried that the latest fire disaster at the Jos market was the third in less than 10 years.

    “As you count your losses, I send you my heartfelt commiserations over this devastating disaster. I am confident that your enterprising spirit would help you rebuild your lives. May God replenish you with more prosperity,” he said.

    The President also appealed to the local authorities concerned to take every necessary measure to forestall frequent fire incidents.

    He said the incidents were taking a heavy toll on people’s means of livelihood and the intervention of all three tiers of government would go a long way to alleviating the hardships.

  • Properties worth millions of Naira destroyed as fire razes Ojota market

    Fire gutted a section of Binukonu Ultra Modern Market, Ojota in Lagos in the early hours of Friday, destroying goods and property worth millions of Naira.

    This is the third fire incident at the market in three years. Previous incidents occurred in 2015 and November 2017.

    Friday’s fire, which was believed to have been caused by an electrical fault, started at 1.30am and razed over fifty stalls in the market.

    At 4.10am when the NANcorrespondent arrived at the scene, firefighters who came with two trucks from the Lagos State Emergency Management Agency were seen putting out the fire, which was still raging.

    Panicky traders tried to salvage their goods in their shops from the approaching fire.

    Alhaja Rehanat Salami, the female Head of the market (Iya-Oloja) said that the fire was caused by an electrical fault.

    She said, “I didn’t look at the time when I received a phone call that the market was burning when I hurriedly started coming here.

    “When the fire occurred on the two previous occasions, we did everything the government instructed us to do.

    “When the fire occurred the first time, the government helped us to reconstruct the affected stalls for free.

    “I heard that this fire was caused by an electrical spark, I had warned everyone to always turn off their electricity connections when there is a power outage.

    “We make sure we put off all the lights when we close for the day at the market.”

    The secretary of the market, Mr. Gbenga Fayemi revealed previous efforts the management of the market had made to prevent a reoccurrence of a fire outbreak.

    “This fire that occurred just now is the third time that it is occurring,the first was three years ago and the last one occurred last year.

    “The traders had not fully recovered from the previous incidents when this one occurred despite all our efforts to prevent a reoccurrence.

    “When the first incident occurred Honourable Rotimi Agunsoye of the House of Representatives gave us some firefighting equipment.

    “When the second incident occurred, we tried using the equipment but it didn’t quench the fire.

    “I also installed the equipment in all these shops that got burnt because I was told that the equipment will burst and stop the fire when a fire begins but I was surprised that it did not work today,” he said.

    Fayemi said the fire services did not arrive at the scene till about 2.30am which was an hour after the first call was made to alert them about the blaze.

    “When they came, their water was not enough I had to tell them to send more water tankers here because the fire was much more than we expected.

    “Two fire trucks are here from LASEMA, the firefighters had to go to Ogba to get more water, I wonder why the water channels created by Lagos State Government don’t work,” he said.

    Mrs. Olabisi Salami, a trader who sells frozen meat and fish in the market tearfully lamented to NAN about her financial losses.

    She said “I was called at 2 a.m. that the market was on fire, when I got here I realised everywhere has been totally burnt.

    “I have no insurance. When the first incident occurred, the local government rebuilt the affected stalls.

    “I had just used a loan to purchase a lot of fresh frozen produce on Tuesday in preparation for the Easter holiday and now this happened on Friday.

    “I have lost five deep freezers and goods worth N1.6million to this fire, Nigerians should help me, I don’t know what to do, this is the second time this is happening to me,”Salami lamented.

    Another trader, Mrs Toyin Shodara, also talked about her losses in the fire incident.

    “I sell drinks and snacks, I got to know about the fire incident about 3 am this morning. I have a month old baby, so I could not come immediately I heard the news. It was my husband that came.

    “The fire wasn’t a lot on my own side of the market, I was able to salvage a few things, though it affected my freezer, plastic drinks and my crates of minerals.

    “I have no insurance, I don’t know how I will recover from this. Everything is in the hands of God,” she said.

    Other traders who were badly affected by the fire declined interviews with NAN because they were too distraught to speak.

    Mr. Kehinde Adebayo, the Public Relations Officer of LASEMA, in a phone interview told NAN that he could not comment on the alleged one-hour lateness of the fire services and insufficient water in the fire trucks.

    “I cannot comment on that, only the Managing Director can comment on that. What I can do is to issue an official press statement. All I can say before the statement is issued is that there was sufficient water for the fire trucks,” he said.

  • CBN injects fresh $210m into foreign exchange market

    CBN injects fresh $210m into foreign exchange market

    …as Naira exchanges for $1/N360

    The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market.

    The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised dealers in the wholesale segment of the market.

    Okorafor said that the Small and Medium Enterprises (SMEs) segment got 55 million dollars, while customers in need of foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA), were allocated 55 million dollars.

    Okorafor reiterated the CBN’s commitment to continuous intervention in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.

    He said that the CBN would continue to strategically manage the foreign exchange market with a view to reducing the country’s import bills and halting depletion of its foreign reserves.

    On Feb. 12, the CBN had intervened to the tune of 210 million dollars to cater for requests in the various segments of the market.

    Meanwhile, the naira continued its stability in the foreign exchange market, exchanging at an average of N360 to a dollar in the Bureau De Change segment of the market.

  • Forex: Market gains stability as CBN injects $210m

    The various segments of the currency market in the country gained stability last week as the Central Bank of Nigeria (CBN) put another $210 million into the market to sustain flow of forex to meet demands of customers.

    According to a weekly report released by Cowry Asset, the Naira strengthened against the US Dollar at the Investors & Exporters Forex Window (I&E FXW) by 0.09 percent to N360.10/$ week-on-week (w-o-w).

    However, at the Bureau De Change (BDC) and the interbank foreign exchange market segments, the local currency closed flat at N361/$ and N330/$ respectively.

    But at the parallel (black) market segment, the Nigerian legal tender depreciated by 0.28 percent to N364/$.

    During the week, the apex bank released $100 million to the Wholesale (SMIS) segment, $55 million to Small and Medium Scale Enterprises sector, and $55 million for invisibles.

    Meanwhile, all dated forward contracts at the interbank over-the-counter (OTC) segment appreciated on sustained increase in the foreign exchange reserves – spot rate, 1 month, 2 months, 3 months and 6 months contracts appreciated w-o-w by 0.03 percent, 0.08 percent, 0.16 percent, 0.31 percent and 0.30 percent to close at N305.70/$, N363.93/$, N367.82/$, N371.75/$, and 386.50/$ respectively.

    As the global crude oil prices retains upbeat, which should result in further build-up in foreign reserve, the Naira is expected to sustain stability this week.

     

  • Oil rise as production cuts tighten market

    Oil rise as production cuts tighten market

    Oil prices rose on Tuesday on the back of an outlook for healthy demand amid ongoing production cuts led by OPEC and Russia.

    U.S. West Texas Intermediate (WTI) crude futures were at 58.50 dollars a barrel.

    The Organisation of Petroleum Exporting Countries (OPEC), the Middle East-dominated producer club, and Russia, the world’s single biggest oil producer, have been withholding output to tighten the market and prop up prices.

    The agreement to cut started last January and is set to cover all of 2018.

    abar al-Luaibi, oil minister of OPEC-member Iraq, said there would be a balance between supply and demand by the first quarter of 2018, leading to a boost in prices.

    The production cuts came amid healthy global demand which many analysts expect to hit 100 million barrels per day (bpd) for the first time at some point next year or in 2019.