Business
Enugu Tailors bewail low patronage
Enugu Tailors bewail low patronage
Some tailors in the Enugu metropolis have expressed regret over low patronage, as yuletide season sets in.
Some of the tailors, who spoke to a correspondent of the newsmen on Wednesday, attributed the poor patronage to the current economic hardship.
Few of the dressmakers, attributed the downturn in their business to the preference for readymade wears, as against the bespoke dresses.
Read Also: Former China’s Food Reserves Administration Sentenced To 10 Years In Jail
Mary Akujiobi, a tailor at Uwani, said patronage was lower compared to previous years when customers flooded her shop, months before the Christmas and New Year celebrations.
Miss Patience Ilo, another tailor at Achara Layout, said that the increase in the value of the dollar to the Naira affected her business.
“In the past, my customers from Enugu and other places would have brought their cloths earlier to avoid disappointment.
“But as you can see, Christmas is less than three weeks and we have just a few materials to sew,’’ she said.
Ifeanyi Ojukwu, another tailor, also attributed the poor patronage to increase in the price of services rendered by tailors, which, according to her, had forced customers to find alternatives in ready-made or fairly-used clothes.
“As the prices of everything have gone up, we are forced to increase our charges because the cost of materials and other accessories in making wears have increased.
“Some people prefer to just buy ready-to-wear clothes or second-hand ones, which in some cases, are a bit cheaper than buying cloth materials, accessories and the sewing,’’ he said.
Enugu Tailors bewail low patronage
NNPC Denies $6.8 Billion Debt Allegation and Defends Federation Account Remittances
On Sunday, the Nigerian National Petroleum Company Limited (NNPC Ltd) refuted claims of a $6.8 billion debt to international traders. In a statement, Olufemi Soneye, Chief Corporate Communications Officer, clarified that the company does not owe the reported sum.
The NNPC Ltd’s response followed allegations that it has not contributed any funds to the Federation Account since January. Soneye emphasized that such claims are false, asserting that the company and its subsidiaries consistently remit taxes to the Federal Inland Revenue Service (FIRS).
Soneye explained that while NNPC Ltd manages numerous open trade credit lines, it adheres to a first-in-first-out payment approach for its obligations. He also highlighted that the company is a major contributor to the Federation Account Allocation Committee (FAAC) through its tax contributions.
Regarding the quality and quantity of imported petroleum products, Soneye clarified that NNPC Ltd does not oversee these matters, as this falls under the purview of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), an independent body.
The statement reinforced NNPC Ltd’s commitment to transparency and accountability, in line with the company’s TAPE (Transparency, Accountability, and Performance Excellence) philosophy.
Naira rebounds, gains N28.15 against dollar
The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.
The percentage increase is significant when compared to the previous trading date on Monday, April 29.
The local currency experienced about two weeks steady fall by exchanging at N1,419 to a dollar.
The success story was replicated in the volume of currency traded, as the total daily turnover increased.
The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar.
Naira rebounds, gains N28.15 against dollar
Naira appreciate, gains further by 1.8% against dollar
The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday.
Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent, compared to the previous day’s rate of N1,408 against the dollar.
Read Also: Pay Hajj Fare Based On Dollar Exchange Rate, NAHCON Advises Pilgrims
However, the total turnover increased to $245.58 million on Tuesday, up from $222.15 million recorded on Monday.
Meanwhile, at the Investor’s and Exporters’ (I&E) window, the Naira traded between N1,486 and N1,300 against the dollar.
The reports gathered that the Central Bank of Nigeria(CBN) had, earlier on Tuesday at its 294th Monetary Policy Committee (MPC), raised Monetary Policy Rate (MPR), by 200 basis points from 22.75 per cent to 24.75 per cent.
CBN governor Yemi Cardoso said that was meant to tackle the nation’s rising inflation.
Naira appreciate, gains further by 1.8% against dollar
-
Health5 months agoOnly 58,000 doctors renewed licence out of 130,000 registered doctors – MDCN
-
Business1 year agoNew Rates: ‘I borrowed money to finance this business…’ – Petroleum Marketer cries out over Non-supply of products by the NNPCL
-
Entertainment2 months agoBBNaija Season 9: TAMI Duo Evicted After Low Vote Count
-
Defence & Security1 month agoOrganisers Demand IGP’s Dismissal Over Fatal Protest Crackdown
-
Defence & Security1 month ago“Defence Chief Praises Strong Inter-Service Cooperation for Operational Successes”
-
Business2 years agoNew Naira Notes: We Have No Information On The Supreme Court Ruling – CBN
-
Weather2 months agoNiMet Forecasts 3 Days Thunderstorms, Rain Nationwide
-
Opinion2 years agoAddressing Nigeria’s food security challenge through eco-friendly agriculture
