The consequences of the economic policies of President
Mohammadu Buhari’s administration are said to have
worsened the welfare of traders from frying pan to real
The Managing Director of Castle Kitchen, Mr Akin Ezuluka
stated this while speaking in his office along Owerri road,
Nnewi, Anambra state.
He pointed out that things were relatively better for the
traders in the era of administrations preceding the present
government led by President Buhari, which according to
him, came on board with so much promises of what the
administration would bring to the table.
“During the campaigns, they brought to us a change
agenda which they said would take us to the promised
land where people will have opportunity to actualize their
dreams and potentials but the reality today is that this
administration has taken the country ten years backward.
“Nigeria was indeed the giant of Africa upto 2015 when
the nation’s economy was leading all other African
countries but South Africa and other smaller countries
have overtaken Nigeria because the present administration
is not just clueless but purposeless, directionless and
“We all remember that the administration of Dr Goodluck
Jonathan had a robust economic team comprising of
people who have distinguished themselves in the field of
banking, finance and economics not minding their political
leanings. But President Buhari has reduced everything to
The Ezinifite born businessman said that the rate at which
traders are getting frustrated is beginning to affect other
sectors like the hospitality sector servicing the Nkwo
Nnewi main market which was bubbling before the present
administration came on board.
“This administration has peculiar problems in the sense
that there is great inflation in the economy which
automatically reduces the purchasing power of ordinary
Nigerians. The situation is made worse by low level of
cash in circulation. If things continue this way, I bet you,
many people will have to close their shops.
“This administration is pretending to be fighting corruption
but their approach toward the war is even corrupt. How
can one explain the reason behind the administration’s ges
ture of giving those going on pilgrimage to Saudi Arabia
the dollar at official rate of N197 while the manufacturers
who needed the foreign exchange for production that gives
boost to the economy are left to grapple with the forces
of demand and supply.
The MD of Castle Kitchen said that nations all over the
world are diversifying their economies on concrete terms
while Nigeria is busy paying lip service to the issue.
“This government has been singing it like song that people
should embrace agriculture but what have they done to
make the dream of self sufficiency in food production a
reality. I expect that certain level of production should be
reached before they ban importation of items like rice.
The policy or lack of clear cut policy from the government of
the day is pauperising the people and that is certainly not
good for business.
Mr Ezuluka who noted that an hungry man will always be
an angry man said that any policy that will not put food on
the tables of an average Nigerian should be discouraged,
said that it is only when people are well fed that they can
then be creative.
“Go round the market and you will appreciate what I am
telling you, this is one of the largest market in West Africa,
the growth of the market has led to the large number of
financial institutions and other service oriented institutions
in the town but since this systematic frustration of the trad
ers started, especially in Buhari’s administration, people
are no longer at ease because things had fallen apart at an
The MD of Castle Kitchen appealed to President Buhari to
as a matter urgency reconstitute an economic team made
up of competent and qualified personalities to checkmate
the rate at which the nation’s economy is nose diving.
“These call has become imperative because the number of
people making their living directly and indirectly from our
markets are so many and if these enterprising ones are
pushed out of business then that would spell doom for the