{"id":1571,"date":"2026-02-01T03:10:15","date_gmt":"2026-02-01T03:10:15","guid":{"rendered":"https:\/\/news.infotekps.com\/index.php\/2026\/02\/01\/onitsha-market-closure-over-n200-billion-lost-as-soludo-traders-reach-deal\/"},"modified":"2026-02-01T03:10:15","modified_gmt":"2026-02-01T03:10:15","slug":"onitsha-market-closure-over-n200-billion-lost-as-soludo-traders-reach-deal","status":"publish","type":"post","link":"https:\/\/news.infotekps.com\/index.php\/2026\/02\/01\/onitsha-market-closure-over-n200-billion-lost-as-soludo-traders-reach-deal\/","title":{"rendered":"Onitsha Market Closure: \u2018Over N200 billion lost\u2019 as Soludo, traders reach deal"},"content":{"rendered":"
\"Soludo<\/p>\n

\u2026Market reopens tomorrow<\/strong><\/p>\n

\u2022\u2018Govt to rejig market security\u2019<\/strong><\/p>\n

By Chimobi Nwaiwu<\/strong><\/p>\n

Following the closure of Onitsha Main Market by Anambra State governor, Prof Chukwuma Soludo, the market leadership has agreed to stop observing sit-at-home order on Mondays as earlier directed by the state government.
It specifically expressed willingness to comply with the governor\u2019s directive that they begin operation every Monday but highlighted logistics and security challenges.<\/p>\n

A statement by the state Commissioner for Information, Mr. Law Mefor, said the Chairman of Onitsha Main Market, Mr. Chijioke Okpalugo, gave the assurance when the governor hosted the traders. The statement said Okpalugo pledged that traders would begin Monday operations in alignment with the governor\u2019s vision for a \u201cOne Anambra.\u201d
Also, the traders\u2019 leadership presented several requests to ensure a successful transition.<\/p>\n

Their demands include provision of proactive security to protect traders and customers, ensuring motor parks are fully operational to attract buyers from outside the state, and decisive action against individuals who benefit from or facilitate the sit-at-home order.<\/p>\n

According to the statement, Governor Soludo reaffirmed his commitment to securing the state\u2019s commercial hubs, promising that the security architecture across all markets would be overhauled to prevent harassment.
\u201cIgbo land and Anambra will move forward,\u201d he declared.<\/p>\n

The statement further said Soludo presented a \u201crenovate or rebuild\u201d ultimatum to the traders, offering two options: to level the existing structures and build a new, world-class trading hub or undergo a massive modernisation project.<\/p>\n

It further quoted the governor as having said:\u201dFor four years, we engaged with you. We discussed, pleaded, and even held prayer sessions with all the churches in April 2022, to end this. It is now time for more action.
\u2018\u2019The current enforcement of the sit-at-home order has transitioned from a political protest to a criminal enterprise that no longer serves the interests of Mazi Nnamdi Kanu.<\/p>\n

Those enforcing the order are largely non-indigenes of Anambra State. Extreme measures would be deployed by government if defiance persists.\u201d<\/p>\n

Meanwhile, Chairman of Onistha Chamber of Commerce, Chinedu Nwonu, has disclosed that the market lost more than N200 billion in six days following the closure.<\/p>\n

His words:\u201dIt is estimated that the market trades between $5 and $10 billion dollars on an annual basis and on a daily basis, between $12 and $15 million dollars. And if one has to convert it to Naira, you are talking about close to N20 billion daily. If you just do simple arithmetic, N20 billion for six days is about N120 billion. The market has lost so much, and that is a direct loss.<\/p>\n

\u201cThe indirect loss may even be so much when you talk about lost opportunities. If you attach a figure to it, it would not be less than N200 billion in six days.\u2019\u2019<\/p>\n

The governor had ordered the closure of the market last Monday following the continued observance of sit-at-home order by the traders.<\/p>\n

The order was earlier given by the Indigenous People of Biafra, IPoB, four years ago as part of its advocacy for the realisation of the sovereign state of Biafra.<\/p>\n

The post Onitsha Market Closure: \u2018Over N200 billion lost\u2019 as Soludo, traders reach deal<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u2026Market reopens tomorrow \u2022\u2018Govt to rejig market security\u2019 By Chimobi Nwaiwu Following the closure of Onitsha Main Market by Anambra … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cdn.vanguardngr.com\/wp-content\/uploads\/2024\/06\/Soludo-Charles.webp","fifu_image_alt":"","footnotes":""},"categories":[22],"tags":[19],"class_list":["post-1571","post","type-post","status-publish","format-standard","hentry","category-african-news","tag-general-africa-top-news"],"yoast_head":"\nOnitsha Market Closure: \u2018Over N200 billion lost\u2019 as Soludo, traders reach deal - Your Daily News Dose of the World\u2019s Hottest Headlines<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.infotekps.com\/index.php\/2026\/02\/01\/onitsha-market-closure-over-n200-billion-lost-as-soludo-traders-reach-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Onitsha Market Closure: \u2018Over N200 billion lost\u2019 as Soludo, traders reach deal - 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