Many meat sellers in various markets in the Federal Capital Territory (FCT) have expressed concerns over their inability to buy cattle from rearers.
According to them, their inability to access naira notes, which is the only means of transaction acceptable to cattle rearers, is causing difficulties in purchasing cattle.
This is according to a report from the News Agency of Nigeria (NAN).
According to NAN, at Dei-Dei food market, Kado Fish market, and Dutse market revealed that many butchers refused bank transfers, insisting on cash payment. It was also observed that most meat stalls had little quantity for sale to avoid decay due to low patronage.
Nasiru Musa, a butcher at the popular Dei-Dei market, explained that he cannot accept bank transfers for the purchase of meat because the cattle rearers he buys from do not have account numbers and only accept cash before selling their cattle.
- “If the money enters my account through transfer, how do I pay the Fulani rearer who does not go to the bank or have a phone?” he asked.
Musa’s refusal to accept online transactions has reduced his sales, as that is the only offer made by most buyers. One of Musa’s customers, who identified herself as Mrs Tope Adelusi, expressed frustration that her regular butcher refused to accept bank transfers.
- “It is not my fault that there is no cash in circulation, so why can’t we assist each other?” she asked.
Malam Isiaka Babatunde, a butcher in Dutse market, said the meat on display at his shop was the only one left for sale, and that he had no plan to buy more. Babatunde added that his decision not to buy more cattle was because he lacked the naira notes with which to purchase them from the rearers.
- “It is better I sell all the ones I have and just rest at home for now because I don’t understand what this country is turning into,” he said.
Mr Emeka Agu, another butcher, explained that because of the low circulation of the new naira notes, he had been unable to buy any cows.
He said it was unfortunate that he had money in his bank accounts but could not withdraw or transfer to his business partners. He called on the Federal Government to ease the pain of Nigerians by finding a solution to the naira scarcity.
The scarcity of cash is caused by a number of factors, including the high cost of production, high inflation, low demand for credit, and inadequate support for agriculture.
The shortage of naira notes has had a significant impact on small businesses, with many struggling to keep up with the day-to-day costs of running their business.
The government’s economic policies have also been blamed for the situation, as many businesses feel they have been left to fend for themselves.
