Kafanchan Pig Market Traders Groan as Naira Scarcity Bites Harder

Traders at one of Nigeria’s largest pig market located in Kafanchan, Kaduna State, have decried the impact of the lingering Naira scarcity on their business.
A cross section of traders who spoke with the News Agency of Nigeria (NAN) at the market which holds every Thursday of the week, said they had recorded losses in their business in recent time.
NAN reports that most traders at the market are yet to embrace the cashless policy of the Federal Government as they only accept cash for their pigs.
A pig seller, Jeremiah Thaddeus, said many of them had to slash the prices of their pigs in order to minimize losses due to low patronage.
“A pig that we used to sell for N80, 000 for example, now goes for N50, 000 due to this cash problem. Even with the reduced prices, customers are not coming like they used to before this problem started,” Thaddeus said.
Another trader, Michael Musa, said the situation had affected his sales so badly that he was considering adopting electronic transfer, According to Musa, “For two weeks now, my pigs have been on ground without anyone coming to buy them.
“The market has been so poor that I am seriously thinking of embracing the cashless policy because I can’t continue like this. My only concern is the network challenge I hear a lot of people complain about during online transactions,” he said.
On his part, Chairman of the Market, Gregory La’ah, said that the cash crunch was one of the biggest setbacks suffered by the market since its creation.
“We’ve never had it so rough in this market, not even during COVID-19. Our people are having a really hard time trying to make sales. We are praying that the situation improves in the coming days and weeks, otherwise the losses will be too much to bear,” he said
La’ah used the opportunity to call on the government to equip the market with modern facilities and structures.
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