Closed Ladipo Market: N100bn Lost Daily – Traders

ladipo-protestFollowing the indefinite closure of the popular Ladipo auto parts market by Lagos State Government on Monday, traders have started counting their losses, as they claim that at least N100 billion is lost daily.

The traders who are already experiencing the pains of the closure lamented their inability to meet their obligations to their families.

According to Secretary of the Aguiyi Ironsi Traders Union, Mr. Christain Igbaunam, who led members the union on a peaceful protest, for everyday that the market remains closed, his members would be losing over N100billions. He also lamented that efforts to meet with the Lagos State Task force on Environmental and Special Offenses (Enforcement) Units, to negotiate the reopening of the market had remained futile.

He said: “We have over 15,00 registered members. Individual members make not less than N10 million daily. On the average, members will be losing over N100billions on a daily basis to the closure of the market.”

He denied allegations that their security guards arrested were armed robbers, saying “those allegations made against our security guards are false. They were not armed with guns and were not against the state officials. They were only misunderstood. These are security guards put in place by the association to arrest criminal activities in the market. I am pleading for their release” he added.

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