A shop manager said business is dwindling in the area due to a significant in the number of Nigerian customers.
London’s world famous Sunday market, better known as Liverpool Street Market, in East London is facing hard times as some of its businesses are folding up while many others are struggling to stay afloat due to the low patronage of Nigerians, a Daily Trust findings have shown.
The 400-year-old market, which sells mainly clothes for women, men and children; designer goods, as well as bric-a-brac and household goods, is patronised mainly by Nigerians and other customers from around the world.
A recent survey showed that the change of government in Nigeria, coupled with cash and financial policies that placed restrictions on the amount of money one can travel with or withdraw abroad have led to a drastic reduction of Nigerian customers at the market.
In one of the big textile shops in the market, an employee who craved anonymity told Daily Trust that their sales had slumped by more than 40 percent since the inception of the President Muhammadu Buhari administration, adding that the few Nigerian customers who come in now buy only a fraction of items they used to buy in the past.
In another top textile shop with a reputation of serving tea to big time customers while they shop, a manager who wouldn’t like his name published said their business has been going through “tough times” in the last few months due to a “significant” drop in the number of Nigerian customers.
“When the going was good, a lot of Nigerian customers bought assorted items in bulk and opted for door- to- door courier or cargo delivery in Nigeria,” but lamented that they hardly have such customers now.
Speaking in the same vein, a shop owner, Chief (Mrs.) Franca Aina, said sales had “really, really gone down,” and attributed the trend partly to restrictions on credit card spending and the limited amount of cash Nigerians are allowed to carry or withdraw abroad.
Aina, who is Nigerian, said the situation was so bad that some shops and businesses were closing down,