The Nigerian Government Encourages Traders to Embrace Technology

The Federal Government has issued a call to Nigerian traders to adopt new approaches in their businesses by utilizing technology to the fullest extent possible. This was made public by the Minister of State for Labour, Employment, and Productivity, Nkeiruka Onyejeocha, at the inauguration of the National Union of Market Traders Employers of Nigeria’s state and local government chapter executives in Ado Ekiti, the capital of Ekiti State.

According to Onyejeocha, marketplaces should not only be spaces for traditional commerce but also hubs of innovation where traders can leverage technology to expand and grow their businesses. The minister emphasized that traders must adapt to the era of economic transformation, which is characterized by innovation and technology, and that the government is committed to providing security benefits to traders across the country.

The minister stressed that the government has acknowledged the challenges faced by the informal sector, particularly market traders, and plans to create policies that will make it easier for them to do business. She also pledged to enhance the working conditions of the informal sector, ensuring that market traders receive the necessary support, skills development, and financial empowerment to contribute significantly to the nation’s economy.

The National Union of Market Traders Employers of Nigeria (NUMTEN) has vowed to follow the laid-down grievance procedure in resolving issues to maintain peace and harmony within the union. According to Ogu Chukwuma, the NUMTEN National president, the union aims to alleviate or eradicate the sufferings of Nigerian traders and employers by helping the government bring down the high cost of goods in the nation’s markets.

In addition, NUMTEN Chairman in Ekiti, Morakinyo Akintayo, announced that activities have commenced with the completion of comprehensive data collection from all markets in the state, and that loans and grant schemes will be made available to all traders across the state.

The Federal Government’s commitment to enhancing security benefits for traders, alongside the union’s goals of alleviating suffering and providing support, marks a significant step towards empowering Nigerian market traders and employers. By embracing technology and promoting inclusivity, the government is working towards a brighter economic future for the country’s informal sector.