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Over N200bn Lost as Onitsha Market Reopens After Deal Between Traders and Soludo

Onitsha Main Market has reopened after the Anambra State Government and market leadership reached an agreement to end the temporary closure imposed last week, following significant economic losses estimated at more than N200 billion over six days, authorities and traders said.

The development marks a pause in one of the region’s most disruptive commercial shutdowns in recent months.

The market was closed for one week by Governor Chukwuma Soludo after traders repeatedly observed a Monday sit‑at‑home order tied to wider regional protest actions, defying government directives to resume business.

In a statement issued by the Anambra State Commissioner for Information, Mr. Law Mefor, the Chairman of Onitsha Main Market, Mr. Chijioke Okpalugo, assured the governor that traders will begin commercial activities every Monday, aligning with government instructions to support economic recovery and normal business operations.

Okpalugo highlighted logistical and security challenges faced by traders and presented specific demands to the government to ensure a successful return to regular operations.

Key among the requests were enhanced security measures to protect traders and customers, the full operation of motor parks to attract buyers from outside the state, and decisive action against individuals who benefit from or facilitate the sit‑at‑home practice.

Governor Soludo reaffirmed his commitment to securing the state’s commercial hubs, pledging an overhaul of the security architecture across all markets to reduce harassment and ensure trader safety.

“Igbo land and Anambra will move forward,” he said at the dialogue with market leaders.

In addition to addressing security, Soludo presented traders with options for “renovate or rebuild” the market, offering either demolition of existing structures to build a new, world‑class trading hub or undertaking a massive modernisation project of current facilities.

Officials and traders also discussed infrastructure improvements and phased market recovery as part of longer‑term plans to reposition the commercial centre. Similar discussions on phased remodelling have been underway to minimise disruption while enhancing the market’s capacity and sustainability.

The Chairman of Onitsha Chamber of Commerce, Mr. Chinedu Nwonu, estimated the market lost more than N200 billion in both direct and indirect economic opportunities during the six‑day closure, noting that daily trade at the market ranges between $12 million and $15 million (roughly N20 billion per day).

The reopening comes amid calls from stakeholders and community leaders for continued dialogue and cooperation to prevent future disruptions while safeguarding the livelihoods of traders who depend on Onitsha Main Market as a major economic hub.

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Michael Victor

Editor Green Horizon News

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