Alhaja Saratu Aduke Konibaje, Oyo foremost leader has described the death of one of the wives of Oba Rasheed Ladoja, the Otun Olubadan of Ibadanland as a rude shock and devastating.
According to a statement made available by her media office in the early hours of Tuesday, Alhaja Saratu prayed to God to give the family of Rasheed Ladoja and friends of the deceased the fortitude to bear the loss.
“I received as a rude shock the death news of Tinuade Ladoja, a respected wife of our baba up till her death. She was a woman of virtue and value, who lived an examplary life in service to God and Humanity, and I pray that may God comfort the family she left behind”
“This is a trying time for my Baba, Oba Rasheed Ladoja, the market women identify with your loss and pray to God to give you the fortitude to bear the loss”
In celebration of this year’s Malud Nabi, Alhaja Sarutu Aduke Konibaje, has extended her warm greetings to market leaders, both men and women, across the State. In her message, she acknowledged the significant role that market men and women play in the economic and social activities of State, commending their dedication and hard work in ensuring the availability of goods and services for the people.
Sarutu Aduke Konibaje used the occasion to urge market leaders and traders to imbibe the teachings of the Prophet Muhammad (Peace Be Upon Him), particularly his emphasis on honesty, compassion, and peaceful coexistence. She stressed the importance of upholding these values in their daily dealings, both in business and personal relationships.
“On this auspicious occasion of Malud Nabi, let us reflect on the teachings of the Prophet and allow them to guide us in our interactions with one another. By living with honesty, humility, and kindness, we can foster a peaceful and prosperous environment for ourselves and future generations,” she said.
She also emphasized the need for continued unity and peaceful coexistence among all traders, regardless of their religious or ethnic backgrounds. She urged the market men and women to work hand in hand to maintain the peace and stability that the State has enjoyed over the years, ensuring that the market continues to be a place of harmony and progress.
As the celebrations continue, she expressed her best wishes to all and prayed for a peaceful and prosperous year ahead.
Southwest Nigeria pulsates with entrepreneurial energy. From bustling marketplaces like Agbowo Market in ibadan, Bodija market ibadan, idumota in the land known for its excellence, Sasa market in Osogbo and myriads of SMEs to the high-tech startups in Lagos, SMEs (Small and Medium-sized Enterprises) are the backbone of the region’s economy. But what does it take to succeed in this vibrant yet challenging landscape? Let’s delve into the opportunities and hurdles faced by SMEs in southwest Nigeria, drawing inspiration from local success stories and offering valuable insights for aspiring entrepreneurs.
Access to Finance: Securing funding remains a major roadblock for SMEs in Southwest Nigeria. Despite the critical role these enterprises play in driving economic growth and job creation, they often struggle to obtain the necessary financial resources . High-interest rates imposed by banks and financial institutions make borrowing expensive and almost impossible. Additionally, the loan application process is often cumbersome and bureaucratic, discouraging many small business owners from even attempting to secure funding. This lack of access to affordable finance can stifle growth, prevent expansion, and limit the ability to invest in new technologies or hire additional staff. For many SMEs, the financial barriers become insurmountable, leading to stagnation or even business failure. Click here to learn more: ResearchGate: Challenges to Nigerian SMEs – Expert 1 (SMEDAN South-West Director viewpoints) Infrastructure Constraints: The operational efficiency of SMEs in Southwest Nigeria is severely hindered by poor infrastructure. An unreliable power supply is one of the most significant issues, as frequent power outages disrupt production schedules, increase operational costs due to the need for alternative power sources like generators, and reduce overall productivity . Moreover, poor transportation networks complicate the logistics of moving goods and services, both for sourcing raw materials and delivering finished products to markets. Inadequate access to modern technology further exacerbates these challenges, as it limits the ability of SMEs to adopt efficient business practices, engage in e-commerce, or utilize advanced manufacturing techniques. These infrastructure constraints collectively pose significant obstacles to the growth and competitiveness of SMEs in the region .
Limited Business Skills: A significant barrier to the growth of SMEs in Southwest Nigeria is the limited business skills among entrepreneurs and their staff. Many small business owners lack formal training in critical areas such as marketing, finance, and human resource management . This skill gap can result in poor business planning, inadequate financial management, ineffective marketing strategies, and suboptimal human resource practices. Without the necessary skills, SMEs struggle to innovate, attract and retain customers, manage their finances efficiently, and expand their operations. Investing in business education and training programs tailored to the needs of small business owners could help bridge this gap and unlock the growth potential of SMEs in the region . Opportunities Abound: Large Market: Nigeria boasts a massive population with a growing middle class, presenting a vast potential customer base for innovative products and services . (Click to learn more: https://www.nigerianstat.gov.ng/) Government Initiatives: The Nigerian government and regional bodies like the DAWN Commission offer various programs to support SMEs, including access to loans, training workshops, and business development services [5, 6]. (Cliick to learn more: https://dawncommission.org/) E-commerce Boom: The rise of e-commerce platforms provides SMEs with a cost-effective way to reach a wider audience. (Click to learn more: https://www.jumia.com.ng/) Cultural Richness: Southwest Nigeria’s unique culture fosters a thriving creative industry, with opportunities for businesses in fashion, music, and art. (Click to learn more: https://creativeconomy.britishcouncil.org/places/nigeria/). Venturing Beyond Ibadan: The entrepreneurial spirit extends throughout southwest Nigeria. Here’s a glimpse into some of the vibrant marketplaces you might encounter in different regions: Lagos: Home to the iconic Alaba International Market, a titan in the electronics industry. This sprawling complex caters to a global clientele, showcasing the scale and ambition of Lagos’s business scene. Abeokuta: Known for the Itoku Market, Abeokuta is famous for its rich cultural heritage. Itoku Market is the heart of the indigenous Adire textile industry. Adire is a traditional Yoruba fabric dyed in unique patterns, and this market is the go-to destination for both locals and tourists seeking these beautifully crafted textiles. The market also offers a variety of other goods, including traditional arts and crafts, making it a hub of cultural and economic activity. Osogbo: In Osogbo, the Ayegbaju International Market stands out as a major commercial center. This market is known for its diverse range of products, including agricultural produce, clothing, and household items. It serves as a vital trading post for the people of Osun State and beyond. The Ayegbaju International Market also plays a significant role in the local economy, providing livelihoods for numerous traders and artisans. Akure: Akure boasts the bustling Oba Adesida Market, which is a focal point of commercial activities in Ondo State. This market is renowned for its variety of fresh produce, grains, and traditional Yoruba spices. It is a key destination for both wholesale and retail buyers, and it plays an essential role in the food supply chain of the region. The vibrancy of Oba Adesida Market reflects the agricultural richness and trading acumen of the local populace.
Oyo: In Oyo, the Akesan Market, also known as the “king’s market,” is a historic and culturally significant marketplace. It is one of the oldest markets in the region and is famous for its wide array of goods, ranging from traditional clothing and jewelry to local foodstuffs and crafts. The market serves as a central point for trade within the ancient town and attracts buyers and sellers from neighboring areas, maintaining its reputation as a vital economic hub. These marketplaces highlight the dynamic and diverse nature of commerce in Southwest Nigeria, reflecting the region’s rich cultural heritage and entrepreneurial spirit.
Writer: JEREMIAH SOLOMON JONATHAN EMAIL: digitaljerry246@gmail.com
The leader of Market women in Oyo State, Alhaja Saratu Aduke Konibaje has congratulated the 43rd Olubadan of Ibadanland on his coronation and presentation of Staff of Office.
Alhaja Saratu described Oba Owolabi Olakulehin ascension as fulfilment of destiny, and pray to that Kabiesi reign will be long and Ibadan will know it for better.
“I felicitate our reverend Kabiesi, today’s is historic in the history of Ibadan and the Olakulehin family as a whole, it signify a new beginning, and as we rejoice with Oba Owolabi Olakulehin we pray to God to grant him a long and peaceful reign”
