“As of today, the majority of industries in Nnewi and Onitsha are no longer functional.” —Ebuka Onyekwelu
Although a very age-long argument, perhaps, Asaba taking over Onitsha’s commercial advantage is now more real than before. In the past few years, there has been consistent relocation of residences and businesses from Onitsha to Asaba. Nearly all major business owners in Onitsha and Nnewi have tactically moved a part of their business and residence to Asaba. The hydra-headed problem of Monday’s sit-at-home and increased level of insecurity in Anambra state has made the Asaba option a matter of commonsense.
In the 1990s and early years of 2000, Onitsha played host to wholesalers and retailers from across the entire Northern Nigeria, Southern Nigeria, all neighbouring countries like Cameroon, Niger Republic, Togo, and even as far as Gabon. Nnewi also played host to buyers from around the country and the mentioned African countries. I know this firsthand as my father then had customers who came to buy goods from Northern Nigeria and Gabon, among many other places. With time, Anambra, and indeed, Onitsha and Nnewi began to lose their comparative advantage in trade and commerce. This was a result of incessant insecurity in which even banks were robbed in broad daylight across Anambra state, at the time. Onitsha became a habitat of criminals where people are dispossessed of their belongings at any time anywhere with absolutely no consequence. The bulk of these traders who came in to transact business with cash were immediately under a severe threat and Anambra’s wide commercial and business advantage began to shrink in early 2000, as a result.
From 2021, what is left of the Onitsha market is now in contention and the city is going through the same process again. As it was before, this second phase is caused by insecurity and Monday’s sit-at-home which has created fear and uncertainty in the business community. As Onitsha is losing, Asaba is gaining. The city of Asaba and the government of Delta state are ready with an open arm receiving businesses and individuals seeking a stable and safer environment for their businesses to thrive and for them and their families to live in safety. This is why the government of Delta State did not allow the sit-at-home to have any foothold in Asaba. As of today, there is hardly any well-to-do businessman in Onitsha who does not have a residence in Asaba or who is not planning to do so. None in that category has yet moved a part of his business to Asaba or planning to do so.
Anyone who has visited Asaba in the last two months must have noticed the rapidity with which stalls are springing up in every nook and cranny of Asaba. Every open strategic spot suitable for commercial activities is undergoing construction of stalls or plazas. Some new big markets have suddenly sprung up across Asaba. Between the head bridge and Asaba Airport, there are now countless newly constructed buildings or ongoing construction that are clearly for market purposes. The simple question is; who are the people going to occupy those buildings?
Without a doubt, Anambra State is now undergoing yet another phase of loss of its comparative advantage which is commerce and trade. The industry component of that advantage has since faced severe dislodgment from unstable power supply, among many other challenges. As of today, the majority of industries in Nnewi and Onitsha are no longer functional. The few still functional are doing so at a very minimal capacity. This should worry the government of Anambra state and indeed those jostling to govern the state in any elective capacity.
By the time all the ongoing stalls under construction in Asaba are fully occupied, one wonders what becomes of the Onitsha markets in a few years down the line. Is Anambra State fully prepared to finally do away with its advantage in commerce, trade, and industry? This is a question that must be answered by all concerned.
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