Why street trading flourishes in Lagos despite ban

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Every day, and for traders coming back to the streets and roadsides after 4.00 p.m. To hawk, we will investigate and come out with appropriate response,” Alabi said. Her agency is saddled with the responsibility of ensuring compliance with the ban on street trading in the state. A shop owner just behind the many street traders, Kelechi Anyanwu, bemoaned the presence of the street traders and its negative impact on his business. The situation is virtually the same at the Iyana Ipaja under bridge area of the Lagos-Abeokuta Expressway where roadside traders are also known to pay between N50 and N100 per day. Hawkers in the market, who have no specific spots, it was gathered, pay N50 to collectors while those who trade in specific spots pay N100.

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• The Consumer Goods sector, recorded a loss of 0.75 per cent, while the Oil & Gas sector also edged down by 0.09 per cent, despite the strong showing of individual oil and gas companies like Aradel.

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We can choose assets that interest us and use the software to perform transactions. Many Nigerian traders start on mobile apps, then migrate to MT4 as they get more confident. The platform is powerful but well-structured—meaning you can go at your own pace without feeling overwhelmed. When it comes to global market access, Exness is quickly becoming a favorite among Nigerian traders. It offers a clean, easy-to-use interface and supports both traditional currency pairs and commodity trading.

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During a recent plenary session, the lawmakers took turn to condemn the growing menace of street trading in different parts of the state, including the Alaba and Okokomaiko areas, where gridlocks are often encountered. This view was shared by another trader, identified simply as Ola, who was one of the numerous bread sellers that converge on the Agege Railway line area every evening. Although many of these traders sell their merchandise by the road, the spaces they occupy are not free. For Mama Nkechi, who sells vegetables near the Commercial Avenue end of Oyingbo, every space is paid for at the roadside market.

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Sometimes, performance Fees take out a chunk from profits or investments as the case may be, thereby eating deep into the investor’s pocket. Investors should choose based on the trader’s past performance for maybe a year. Choosing a trader who has traded for long with consistent results might result in making a profit.

Copy trading saves a lot of time that would be used in conducting research as it eliminates the need to do extensive market research and analysis since trades are executed based on expert traders. To trade, we need a good broker and some background knowledge on trading and the assets of our choice, to make informed decisions. You can automate your investments and choose from curated portfolios based on your risk level.

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Triple G led the losers’ chart with a sharp decline of 10.00 per cent, followed closely by MRS (-9.97%), Chellarams (-9.96%), UACN Property REIT (-9.95%), and IMG (-9.91%). The depreciation of these stocks, alongside others such as Custodian (-9.63%), VFDGroup (-9.32%), Dangsugar (-2.56%), and GTCO (-2.29%), indicated the market’s discerning nature, where even amidst a broader rally, certain companies face selling pressure. Conversely, the Insurance sector experienced a  decline of 1.06 per cent. The Consumer Goods sector, recorded a loss of 0.75 per cent, while the Oil & Gas sector also edged down by 0.09 per cent, despite the strong showing of individual oil and gas companies like Aradel. The Nigerian equities market showcased remarkable resilience, commencing the trading week on a decidedly bullish note, propelling the All-Share Index (ASI) to a new historic high of 109,968.48 points.

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The trajectory of inflation, interest rates, and the government’s economic policies will continue to be crucial determinants of the market’s sustained momentum. For now, the Nigerian equities market appears to be operating in a volatile range, albeit with an upward trajectory, driven by a targeted and confident investor base. In value terms, GTCO dominated, representing 15.76 per cent of the total value of trades on the exchange, despite ending the day in the red.

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He added that even when roadside traders were handled strictly by constituted authorities, residents would be the first to tackle the government that the traders were being deprived of their livelihood. He stated that towards this end, operatives of the Lagos Environmental Sanitation Corps have been drafted to markets and the adjoining streets with standing instructions to arrest any street trader found within the vicinity. As encapsulated is a 21st Century media brand that gives a voice to the totality of Nigerian populace and Africa by extension irrespective of class, ethnicity, religion or background. Our News analysis, documentaries, features and entire programming presents an avant-garde depository of hi-tech digital product that inform, educate, enrich and empower our esteemed and uniquely diverse audience. VOP MEDIA is a People’s first unbiased media platform creating equality of representation, opinion and fairness in political, economic and diverse conversations.

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And in a way, the money will still be borne by the buyers,” a seller of smoked fish, said in a chat with Saturday Tribune. A couple of traders at the Agege Railway area of Lagos claimed that the payment of “a token” of N100 per day was nothing compared to the amount of money they would have had to pay for the same amount of space under normal circumstances. They said they were, therefore, okay with the arrangement and they were not really bothered about whom the collectors remit the money to. “250,000 hectares of land will be cultivated with an expected output of about 750,000 metric tonnes of wheat, which is to be added to the food reserve to reduce dependence on the importation of the product, and also increase domestic consumption. He said that Cross River was leading 16 other states in wheat production, adding that more than 3000 wheat farmers have been listed to benefit from the support to grow the grain.

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Additionally, you may study charts and trends to implement a trading strategy better. The market’s strong performance, analysts observed, underscores a prevailing appetite for fundamentally strong assets, as selective buying interest in blue-chip and mid-cap stocks drove gains. While overall trading activity was mixed, with a drop in volume and value, there was a notable increase in the number of deals which rose by 22.55 per cent for the day. Monday’s performance proved to be a reflection of a strategic and deliberate approach by investors, who had during the previous week lost N201 billion as reported by Business a.m.

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It has been proven that short-term trades might result in quick gains or losses while long-term trades might benefit from compound events. While copy trading can bring about potential profit, it also carries risk. Experienced investors also make wrong decisions and can also experience loss. Investors may incur losses if the trader they copy experiences or makes an unsuccessful trade. If we want to trade with binary options, we pick the asset our option should be a derivate of, chose an expiration date, the amount we want to invest and whether we expect the asset to rise or fall in value.

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